Intuit Inc. (INTU) Receives Consensus Rating of “Buy” from Analysts
Shares of Intuit Inc. (NASDAQ:INTU) have been assigned an average recommendation of “Buy” from the eighteen ratings firms that are currently covering the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $205.96.
A number of research firms have issued reports on INTU. Morgan Stanley downgraded Intuit from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $109.54 to $105.00 in a research note on Tuesday, September 13th. Oppenheimer Holdings Inc. boosted their price target on Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Deutsche Bank AG restated a “buy” rating and set a $125.00 price target (down from $130.00) on shares of Intuit in a research note on Wednesday, August 24th. Brean Capital boosted their price objective on Intuit from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Finally, RBC Capital Markets reiterated a “hold” rating and set a $108.00 price objective on shares of Intuit in a research note on Wednesday, August 24th.
Intuit (NASDAQ:INTU) traded up 0.6508% during trading on Wednesday, hitting $107.6863. 812,855 shares of the stock traded hands. The company has a market capitalization of $27.78 billion, a P/E ratio of 29.1596 and a beta of 1.10. The company’s 50 day moving average is $109.86 and its 200 day moving average is $108.07. Intuit has a one year low of $88.17 and a one year high of $116.97.
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Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. The business earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities analysts forecast that Intuit will post $4.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, October 5th. This is a positive change from Intuit’s previous quarterly dividend of $0.30. Intuit’s dividend payout ratio is presently 36.17%.
In other Intuit news, CFO R Neil Williams sold 6,636 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $110.06, for a total value of $730,358.16. Following the transaction, the chief financial officer now owns 4,727 shares of the company’s stock, valued at approximately $520,253.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $110.00, for a total value of $808,500.00. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Johnson Financial Group Inc. increased its position in shares of Intuit by 563.9% in the second quarter. Johnson Financial Group Inc. now owns 1,029 shares of the company’s stock valued at $115,000 after buying an additional 874 shares during the period. Point72 Asia Hong Kong Ltd increased its position in shares of Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock valued at $123,000 after buying an additional 900 shares during the period. Global X Management Co. LLC increased its position in shares of Intuit by 326.8% in the second quarter. Global X Management Co. LLC now owns 1,276 shares of the company’s stock valued at $142,000 after buying an additional 977 shares during the period. Alpha Windward LLC increased its position in shares of Intuit by 2,340.6% in the second quarter. Alpha Windward LLC now owns 1,562 shares of the company’s stock valued at $174,000 after buying an additional 1,498 shares during the period. Finally, Telemus Capital LLC acquired a new position in shares of Intuit during the second quarter valued at approximately $201,000. 86.01% of the stock is currently owned by institutional investors.
Intuit Company Profile
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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