Stifel Nicolaus Cuts Intuit (NASDAQ:INTU) Price Target to $465.00

Intuit (NASDAQ:INTUGet Rating) had its target price cut by Stifel Nicolaus from $580.00 to $465.00 in a research note released on Wednesday morning, The Fly reports.

Several other brokerages also recently commented on INTU. BMO Capital Markets reduced their target price on Intuit from $550.00 to $475.00 in a report on Wednesday. StockNews.com assumed coverage on Intuit in a report on Thursday, March 31st. They issued a hold rating on the stock. Jefferies Financial Group reduced their target price on Intuit from $790.00 to $700.00 and set a buy rating on the stock in a report on Friday, February 25th. Evercore ISI reduced their price objective on Intuit from $720.00 to $645.00 and set an outperform rating on the stock in a report on Friday, February 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Intuit from $750.00 to $640.00 and set an overweight rating on the stock in a report on Friday, February 25th. One equities research analyst has rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of Buy and a consensus target price of $558.84.

Shares of INTU opened at $422.48 on Wednesday. Intuit has a 12-month low of $339.36 and a 12-month high of $716.86. The company has a quick ratio of 1.18, a current ratio of 1.63 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $119.17 billion, a price-to-earnings ratio of 47.90, a P/E/G ratio of 3.27 and a beta of 1.16. The stock’s 50-day moving average price is $434.51 and its 200 day moving average price is $523.13.

Intuit (NASDAQ:INTUGet Rating) last released its quarterly earnings data on Tuesday, May 24th. The software maker reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.58 by $0.07. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.51 billion. Intuit had a return on equity of 20.77% and a net margin of 19.44%. The company’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.45 earnings per share. Equities research analysts expect that Intuit will post 8.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 18th. Stockholders of record on Monday, July 11th will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, July 8th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.64%. Intuit’s dividend payout ratio is 30.84%.

In related news, EVP James Alexander Chriss sold 984 shares of the firm’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $386.29, for a total value of $380,109.36. Following the completion of the sale, the executive vice president now directly owns 343 shares in the company, valued at approximately $132,497.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 59,286 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total transaction of $28,162,628.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,638 shares of company stock valued at $28,718,951. Company insiders own 3.27% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in INTU. BlackRock Inc. increased its holdings in shares of Intuit by 3.7% during the first quarter. BlackRock Inc. now owns 26,048,746 shares of the software maker’s stock worth $12,525,279,000 after purchasing an additional 919,626 shares during the period. Vanguard Group Inc. increased its holdings in shares of Intuit by 6.4% during the first quarter. Vanguard Group Inc. now owns 24,068,193 shares of the software maker’s stock worth $11,572,950,000 after purchasing an additional 1,446,489 shares during the period. State Street Corp increased its holdings in shares of Intuit by 1.8% during the first quarter. State Street Corp now owns 11,739,798 shares of the software maker’s stock worth $5,644,964,000 after purchasing an additional 210,562 shares during the period. Geode Capital Management LLC increased its holdings in shares of Intuit by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 4,922,658 shares of the software maker’s stock worth $3,158,032,000 after purchasing an additional 336,690 shares during the period. Finally, Brown Advisory Inc. increased its holdings in shares of Intuit by 2.8% during the first quarter. Brown Advisory Inc. now owns 3,823,715 shares of the software maker’s stock worth $1,962,730,000 after purchasing an additional 103,642 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

About Intuit (Get Rating)

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 ProConnect.

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