Jefferies Financial Group Lowers Intuit (NASDAQ:INTU) Price Target to $735.00

Intuit (NASDAQ:INTU) had its price objective trimmed by Jefferies Financial Group from $800.00 to $735.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other analysts also recently weighed in on the stock. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Price Performance

INTU stock opened at $620.91 on Monday. The business has a 50 day moving average price of $596.37 and a 200 day moving average price of $621.71. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $173.58 billion, a price-to-earnings ratio of 60.28, a PEG ratio of 2.85 and a beta of 1.27. Intuit has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In other news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at $11,941.50. This represents a 95.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,334 shares of company stock valued at $19,064,325 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in Intuit in the fourth quarter valued at about $25,000. Copia Wealth Management acquired a new stake in shares of Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new position in Intuit during the fourth quarter worth $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in Intuit during the fourth quarter worth $28,000. Institutional investors and hedge funds 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.