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

Intuit (NASDAQ:INTU) had its price objective decreased by Oppenheimer from $722.00 to $642.00 in a report released on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the software maker’s stock.

Other equities research analysts have also issued research reports about the company. 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. BMO Capital Markets lowered their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $713.56.

Intuit Stock Performance

NASDAQ:INTU opened at $587.04 on Friday. Intuit has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $164.11 billion, a PE ratio of 56.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The business’s fifty day moving average price is $591.70 and its 200 day moving average price is $617.42.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. Copia Wealth Management acquired a new stake in Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the 4th quarter valued at $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.