Moffett Nathanson began coverage on shares of Intuit Inc. (NASDAQ:INTU) in a research note published on Thursday, September 7th. The firm issued a buy rating and a $150.00 price target on the software maker’s stock.
A number of other brokerages have also recently weighed in on INTU. Stifel Nicolaus increased their price target on shares of Intuit from $115.00 to $132.00 and gave the stock a hold rating in a research note on Wednesday, May 24th. First Analysis upgraded shares of Intuit from an underweight rating to an equal weight rating and set a $128.00 price target for the company in a research note on Wednesday, August 23rd. Royal Bank Of Canada reiterated a hold rating and set a $141.00 price target on shares of Intuit in a research note on Thursday, August 24th. Zacks Investment Research upgraded shares of Intuit from a hold rating to a buy rating and set a $152.00 price target for the company in a research note on Monday, August 28th. Finally, Citigroup Inc. cut shares of Intuit from a buy rating to a neutral rating and decreased their price target for the stock from $148.00 to $141.00 in a research note on Monday, June 26th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $140.24.
Shares of Intuit (NASDAQ:INTU) traded up 0.04% during midday trading on Thursday, hitting $142.13. The company had a trading volume of 1,423,535 shares. The firm has a market capitalization of $36.24 billion, a P/E ratio of 38.21 and a beta of 1.15. Intuit has a 1-year low of $103.22 and a 1-year high of $143.81. The stock has a 50 day moving average price of $138.38 and a 200 day moving average price of $131.17.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 EPS. On average, equities analysts anticipate that Intuit will post $4.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. This is an increase from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio (DPR) is 36.56%.
In other Intuit news, VP Mark J. Flournoy sold 1,868 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $142.31, for a total transaction of $265,835.08. Following the sale, the vice president now directly owns 1,713 shares of the company’s stock, valued at approximately $243,777.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Neil Williams sold 184,585 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the sale, the chief financial officer now directly owns 64,620 shares in the company, valued at $9,118,528.20. The disclosure for this sale can be found here. Insiders have sold a total of 888,585 shares of company stock valued at $122,643,706 over the last 90 days. 5.70% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Intuit by 1,542.9% during the 1st quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after purchasing an additional 16,306,976 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Intuit by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Intuit by 7.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares during the last quarter. Morgan Stanley boosted its position in shares of Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after acquiring an additional 966,936 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Intuit by 5.4% in the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after acquiring an additional 138,184 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.
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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