Royal Bank of Canada reaffirmed their hold rating on shares of Intuit (NASDAQ:INTU) in a report issued on Friday. Royal Bank of Canada currently has a $182.00 price objective on the software maker’s stock.
A number of other analysts have also recently issued reports on the stock. Citigroup lifted their target price on shares of Intuit to $170.00 in a research note on Tuesday, November 21st. Oppenheimer lifted their target price on shares of Intuit from $146.00 to $159.00 and gave the company an outperform rating in a research note on Friday, October 27th. JPMorgan Chase & Co. lifted their target price on shares of Intuit to $163.00 and gave the company a neutral rating in a research note on Thursday, January 4th. Deutsche Bank reiterated a buy rating and issued a $180.00 target price on shares of Intuit in a research note on Tuesday, January 9th. Finally, Zacks Investment Research cut shares of Intuit from a hold rating to a sell rating in a research note on Monday, November 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $166.53.
Shares of Intuit (INTU) opened at $172.67 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $44,140.00, a P/E ratio of 45.44, a price-to-earnings-growth ratio of 2.68 and a beta of 1.19. Intuit has a one year low of $114.80 and a one year high of $177.51.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Tuesday, April 10th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, April 9th. Intuit’s payout ratio is 41.05%.
In related news, EVP Henry Tayloe Stansbury sold 2,158 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $158.94, for a total transaction of $342,992.52. Following the transaction, the executive vice president now owns 3,050 shares of the company’s stock, valued at $484,767. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Scott D. Cook sold 184,733 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $158.98, for a total transaction of $29,368,852.34. The disclosure for this sale can be found here. Insiders sold 482,955 shares of company stock valued at $76,280,269 over the last 90 days. 5.59% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its position in Intuit by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock worth $53,363,000 after acquiring an additional 1,870 shares during the period. Bank of Montreal Can increased its position in Intuit by 71.7% during the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock worth $74,412,000 after acquiring an additional 196,911 shares during the period. Boston Advisors LLC increased its position in Intuit by 1,337.2% during the fourth quarter. Boston Advisors LLC now owns 130,301 shares of the software maker’s stock worth $20,559,000 after acquiring an additional 121,235 shares during the period. IFM Investors Pty Ltd bought a new position in Intuit during the third quarter worth $959,000. Finally, Sit Investment Associates Inc. increased its position in Intuit by 4.4% during the fourth quarter. Sit Investment Associates Inc. now owns 85,850 shares of the software maker’s stock worth $13,545,000 after acquiring an additional 3,650 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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