Intuit Inc. (INTU) Receives Consensus Rating of “Buy” from Analysts
Intuit Inc. (NASDAQ:INTU) has been given an average rating of “Buy” by the eighteen brokerages that are presently covering the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $205.96.
A number of research analysts have weighed in on INTU shares. Canaccord Genuity reissued a “buy” rating and set a $750.00 price target on shares of Intuit in a research note on Friday, July 22nd. Goldman Sachs Group Inc. reissued a “buy” rating and set a $123.00 price target (up previously from $117.00) on shares of Intuit in a research note on Thursday, June 23rd. Brean Capital reissued a “buy” rating and set a $130.00 price target on shares of Intuit in a research note on Monday, June 20th. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, June 29th. Finally, Citigroup Inc. reissued a “buy” rating and set a $128.00 price target on shares of Intuit in a research note on Wednesday, August 24th.
Intuit (NASDAQ:INTU) traded up 0.6508% on Wednesday, reaching $107.6863. The company had a trading volume of 812,855 shares. The stock has a market capitalization of $27.78 billion, a P/E ratio of 29.1596 and a beta of 1.10. Intuit has a 12 month low of $88.17 and a 12 month high of $116.97. The firm has a 50-day moving average of $109.86 and a 200-day moving average of $108.07.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The firm had revenue of $754 million for the quarter, compared to analysts’ expectations of $735.35 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. Intuit’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Intuit will post $4.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.27%. This is an increase from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 5th. Intuit’s dividend payout ratio (DPR) is 36.17%.
In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $109.19, for a total value of $204,294.49. Following the completion of the transaction, the executive vice president now directly owns 2,541 shares in the company, valued at $277,451.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R Neil Williams sold 18,567 shares of Intuit stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $111.47, for a total value of $2,069,663.49. Following the completion of the transaction, the chief financial officer now owns 4,727 shares of the company’s stock, valued at $526,918.69. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of INTU. Johnson Financial Group Inc. increased its position in Intuit by 563.9% in the second quarter. Johnson Financial Group Inc. now owns 1,029 shares of the company’s stock worth $115,000 after buying an additional 874 shares during the period. Point72 Asia Hong Kong Ltd increased its position in Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock worth $123,000 after buying an additional 900 shares during the period. Global X Management Co. LLC increased its position in Intuit by 326.8% in the second quarter. Global X Management Co. LLC now owns 1,276 shares of the company’s stock worth $142,000 after buying an additional 977 shares during the period. Alpha Windward LLC increased its position in Intuit by 2,340.6% in the second quarter. Alpha Windward LLC now owns 1,562 shares of the company’s stock worth $174,000 after buying an additional 1,498 shares during the period. Finally, Telemus Capital LLC purchased a new position in Intuit during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 86.01% of the company’s stock.
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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