Citigroup Reiterates Hold Rating for Intuit (INTU)

Intuit (NASDAQ:INTU)‘s stock had its “hold” rating reiterated by equities researchers at Citigroup in a research note issued to investors on Monday. They presently have a $170.00 target price on the software maker’s stock. Citigroup’s price objective suggests a potential upside of 0.24% from the stock’s current price.

Several other brokerages also recently weighed in on INTU. Royal Bank of Canada increased their target price on shares of Intuit from $141.00 to $160.00 and gave the company a “sector perform” rating in a research note on Thursday, November 16th. Oppenheimer increased 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. Zacks Investment Research downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. JPMorgan Chase & Co. increased 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. Finally, Barclays increased their target price on shares of Intuit from $135.00 to $157.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Intuit presently has a consensus rating of “Hold” and an average target price of $157.53.

Intuit (NASDAQ:INTU) traded down $0.84 during mid-day trading on Monday, reaching $169.60. 447,509 shares of the company’s stock traded hands, compared to its average volume of 1,061,030. Intuit has a fifty-two week low of $111.90 and a fifty-two week high of $170.59. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $43,572.97, a price-to-earnings ratio of 45.00, a P/E/G ratio of 3.10 and a beta of 1.18.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The business had revenue of $886.00 million during the quarter, compared to analyst estimates of $855.74 million. During the same quarter last year, the business earned $0.06 earnings per share. Intuit’s quarterly revenue was up 13.9% compared to the same quarter last year. research analysts anticipate that Intuit will post 3.98 EPS for the current fiscal year.

In related news, EVP Henry Tayloe Stansbury sold 2,158 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $158.94, for a total value of $342,992.52. Following the transaction, the executive vice president now owns 3,050 shares of the company’s stock, valued at approximately $484,767. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Scott D. Cook sold 165,689 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.36, for a total transaction of $25,078,687.04. The disclosure for this sale can be found here. Insiders sold a total of 965,938 shares of company stock worth $149,469,127 in the last ninety days. 5.59% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oakbrook Investments LLC increased its position in Intuit by 118.1% during the 3rd quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock valued at $3,045,000 after purchasing an additional 11,600 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Intuit by 0.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock valued at $53,363,000 after buying an additional 1,870 shares in the last quarter. Asset Advisors Corp boosted its holdings in shares of Intuit by 2.5% in the 3rd quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock valued at $13,157,000 after buying an additional 2,300 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Intuit in the 3rd quarter valued at about $959,000. Finally, Bank of Montreal Can boosted its holdings in shares of Intuit by 71.7% in the 4th quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock valued at $74,412,000 after buying an additional 196,911 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Intuit (NASDAQ:INTU)

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