Intuit Inc. (INTU) Receives Average Recommendation of “Hold” from Analysts
Intuit Inc. (NASDAQ:INTU) has received a consensus rating of “Hold” from the twenty-three research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $144.41.
Several brokerages recently commented on INTU. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective for the company in a research note on Wednesday, August 23rd. UBS AG downgraded shares of Intuit to an “underperform” rating in a research note on Wednesday, September 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $132.00 price target on shares of Intuit in a research note on Friday, October 6th. William Blair assumed coverage on shares of Intuit in a research note on Tuesday, September 19th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price target for the company in a research note on Thursday, September 21st.
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Intuit (NASDAQ:INTU) traded up 1.53% during mid-day trading on Thursday, reaching $145.86. 1,091,398 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $142.07 and a 200-day moving average of $133.79. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 39.21 and a beta of 1.15. Intuit has a 12 month low of $103.22 and a 12 month high of $146.72.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. Analysts anticipate that Intuit will post $4.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.07%. This is a boost from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio (DPR) is presently 41.94%.
In other news, EVP Henry Tayloe Stansbury sold 28,048 shares of Intuit stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $146.19, for a total transaction of $4,100,337.12. Following the completion of the transaction, the executive vice president now directly owns 28,940 shares in the company, valued at $4,230,738.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $135.22, for a total transaction of $24,790,423.48. The disclosure for this sale can be found here. Insiders sold 1,084,194 shares of company stock valued at $151,162,540 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Intuit by 1,542.9% during the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock valued at $2,014,036,000 after buying an additional 16,306,976 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Intuit by 2.7% during the second quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock valued at $2,233,621,000 after buying an additional 444,676 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Intuit by 7.8% during the second quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock valued at $634,903,000 after buying an additional 347,159 shares during the last quarter. Morgan Stanley grew its holdings in shares of Intuit by 38.5% during the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock valued at $403,505,000 after buying an additional 966,936 shares during the last quarter. Finally, Janus Capital Management LLC grew its holdings in shares of Intuit by 5.4% during the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock valued at $312,593,000 after buying an additional 138,184 shares during the last quarter. Hedge funds and other institutional investors own 85.96% of the company’s stock.
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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