Deutsche Bank AG Raises Intuit Inc. (INTU) Price Target to $150.00
Intuit Inc. (NASDAQ:INTU) had its target price upped by equities researchers at Deutsche Bank AG from $130.00 to $150.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the software maker’s stock. Deutsche Bank AG’s price objective would indicate a potential upside of 8.26% from the company’s current price.
A number of other brokerages have also weighed in on INTU. Stifel Nicolaus increased their price objective on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $127.00 price objective (up from $124.00) on shares of Intuit in a report on Monday, February 27th. Barclays PLC reissued a “hold” rating and issued a $130.00 price objective on shares of Intuit in a report on Friday, April 28th. Finally, Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $202.69.
Shares of Intuit (NASDAQ:INTU) traded up 0.14% during trading on Thursday, hitting $138.56. The company had a trading volume of 2,318,291 shares. The stock’s 50-day moving average price is $124.22 and its 200 day moving average price is $119.51. The company has a market capitalization of $35.50 billion, a P/E ratio of 39.82 and a beta of 1.06. Intuit has a 52 week low of $103.03 and a 52 week high of $140.25. Intuit also was the target of unusually large options trading on Wednesday. Stock investors acquired 3,603 call options on the stock. This represents an increase of 1,440% compared to the typical volume of 234 call options.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.87 by $0.03. Intuit had a return on equity of 82.77% and a net margin of 20.59%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business earned $3.43 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Intuit will post $4.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a yield of 0.98%. Intuit’s dividend payout ratio is currently 36.27%.
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In other Intuit news, EVP Henry Tayloe Stansbury sold 3,742 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $137.92, for a total transaction of $516,096.64. Following the completion of the transaction, the executive vice president now owns 4,580 shares of the company’s stock, valued at $631,673.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brad D. Smith sold 103,445 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $126.09, for a total value of $13,043,380.05. Following the transaction, the chief executive officer now directly owns 311,733 shares of the company’s stock, valued at approximately $39,306,413.97. The disclosure for this sale can be found here. Insiders have sold 138,137 shares of company stock worth $17,616,698 in the last quarter. 5.70% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in INTU. The Manufacturers Life Insurance Company purchased a new position in shares of Intuit during the third quarter worth approximately $27,103,000. Analytic Investors LLC boosted its position in shares of Intuit by 19.3% in the third quarter. Analytic Investors LLC now owns 3,781 shares of the software maker’s stock worth $416,000 after buying an additional 613 shares during the last quarter. HBK Investments L P boosted its position in shares of Intuit by 149.6% in the third quarter. HBK Investments L P now owns 22,279 shares of the software maker’s stock worth $2,451,000 after buying an additional 13,352 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Intuit by 982.0% in the third quarter. Two Sigma Advisers LP now owns 766,329 shares of the software maker’s stock worth $84,304,000 after buying an additional 695,501 shares during the last quarter. Finally, NorthCoast Asset Management LLC boosted its position in shares of Intuit by 50.2% in the third quarter. NorthCoast Asset Management LLC now owns 230,993 shares of the software maker’s stock worth $25,412,000 after buying an additional 77,202 shares during the last quarter. 85.77% of the stock is owned by institutional investors and hedge funds.
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 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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