Intuit (NASDAQ:INTU) Given “Overweight” Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Intuit (NASDAQ:INTU) in a report published on Wednesday,Benzinga reports. The firm currently has a $785.00 price objective on the software maker’s stock, up from their prior price objective of $765.00.

A number of other research analysts have also commented on INTU. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Intuit Stock Up 2.2 %

Shares of INTU opened at $613.84 on Wednesday. The firm has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average price is $605.90 and its two-hundred day moving average price is $627.25. Intuit has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,014 shares of company stock worth $140,855,687. Company insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Menard Financial Group LLC bought a new stake in shares of Intuit during the fourth quarter worth $167,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Intuit during the fourth quarter worth $237,244,000. Brucke Financial Inc. bought a new stake in shares of Intuit during the fourth quarter worth $419,000. Capital A Wealth Management LLC bought a new stake in shares of Intuit during the fourth quarter worth $256,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter worth $28,000. Institutional investors own 83.66% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.