Oppenheimer Lowers Intuit (NASDAQ:INTU) Price Target to $642.00

Intuit (NASDAQ:INTU - Free Report) had its target price trimmed by Oppenheimer from $722.00 to $642.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an outperform rating on the software maker's stock.

Other analysts have also issued reports about the company. BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Mizuho raised 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. Jefferies Financial Group decreased their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $713.00.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $0.26 during midday trading on Friday, reaching $594.34. The company's stock had a trading volume of 713,723 shares, compared to its average volume of 1,564,678. The firm has a market capitalization of $166.15 billion, a PE ratio of 57.70, a P/E/G ratio of 2.85 and a beta of 1.25. The stock has a fifty day moving average of $591.89 and a 200 day moving average of $617.08. Intuit has a twelve month low of $532.65 and a twelve month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The firm also recently declared 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 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company's stock, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,696 shares of company stock valued at $14,347,731. Corporate insiders own 2.68% of the company's stock.

Institutional Investors Weigh In On Intuit

A number of hedge funds have recently modified their holdings of the company. True North Advisors LLC grew its stake in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC lifted its holdings in Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after acquiring an additional 17 shares during the last quarter. Pacifica Partners Inc. grew its position in Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock worth $52,000 after acquiring an additional 18 shares during the period. Drive Wealth Management LLC increased its stake in Intuit by 2.4% during the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock worth $478,000 after acquiring an additional 18 shares during the last quarter. Finally, NewSquare Capital LLC raised its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Company Profile

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.