Moffett Nathanson Initiates Coverage on Intuit Inc. (INTU)
Stock analysts at Moffett Nathanson started coverage on shares of Intuit Inc. (NASDAQ:INTU) in a research note issued on Thursday. The firm set a “buy” rating and a $150.00 price target on the software maker’s stock. Moffett Nathanson’s price objective points to a potential upside of 6.38% from the stock’s current price.
Several other research firms have also recently commented on INTU. Citigroup Inc. raised their price target on Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Deutsche Bank AG raised their price target on Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Bank of America Corporation raised their price target on Intuit from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Credit Suisse Group raised their price target on Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Finally, Royal Bank Of Canada raised their price target on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $138.28.
Shares of Intuit (NASDAQ:INTU) traded down 0.10% during trading on Thursday, reaching $141.00. 1,525,680 shares of the company traded hands. The firm’s 50-day moving average is $137.19 and its 200-day moving average is $130.32. Intuit has a 12-month low of $103.22 and a 12-month high of $143.81. The stock has a market capitalization of $36.24 billion, a PE ratio of 37.90 and a beta of 1.15.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company had revenue of $842 million for the quarter, compared to the consensus estimate of $808.82 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Intuit will post $4.95 earnings per share for the current fiscal year.
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In other news, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $135.22, for a total value of $24,790,423.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henry Tayloe Stansbury sold 5,350 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $140.25, for a total value of $750,337.50. Following the completion of the transaction, the executive vice president now directly owns 6,242 shares of the company’s stock, valued at $875,440.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,177 shares of company stock valued at $65,982,286. Insiders own 5.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in shares of Intuit in the second quarter worth $108,000. Guardian Life Insurance Co. of America raised its holdings in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after acquiring an additional 5 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Intuit in the second quarter worth $123,000. TLP Group LLC acquired a new position in shares of Intuit in the third quarter worth $125,000. Finally, Johnson Financial Group Inc. raised its holdings in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after acquiring an additional 59 shares during the last quarter. 85.63% of the stock is 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 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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