Intuit Inc. (INTU) Now Covered by Evercore ISI
Research analysts at Evercore ISI began coverage on shares of Intuit Inc. (NASDAQ:INTU) in a report released on Wednesday. The firm set a “hold” rating on the stock.
Several other equities analysts have also recently issued reports on INTU. Morgan Stanley reiterated an “equal weight” rating and issued a $105.00 price target on shares of Intuit in a report on Thursday, August 25th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $100.00 price target on shares of Intuit in a report on Wednesday, August 24th. Deutsche Bank AG reiterated a “buy” rating and issued a $125.00 price target (down previously from $130.00) on shares of Intuit in a report on Wednesday, August 24th. Oppenheimer Holdings Inc. raised their price target on Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Finally, Brean Capital raised their price target on Intuit from $130.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $194.97.
Shares of Intuit (NASDAQ:INTU) opened at 113.80 on Wednesday. The company has a market cap of $29.35 billion, a price-to-earnings ratio of 30.82 and a beta of 1.08. The firm’s 50-day moving average is $108.44 and its 200 day moving average is $109.00. Intuit has a 1-year low of $88.17 and a 1-year high of $116.97.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 17th. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The company earned $778 million during the quarter, compared to analyst estimates of $754.36 million. During the same period last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts expect that Intuit will post $4.34 EPS for the current fiscal year.
In other news, CFO R Neil Williams sold 6,636 shares of Intuit stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $110.06, for a total transaction of $730,358.16. Following the completion of the transaction, the chief financial officer now directly owns 4,727 shares in the company, valued at approximately $520,253.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $109.19, for a total value of $204,294.49. Following the transaction, the executive vice president now owns 2,541 shares of the company’s stock, valued at $277,451.79. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Intuit by 109.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,158,949 shares of the company’s stock valued at $347,516,000 after buying an additional 1,651,255 shares in the last quarter. Marvin & Palmer Associates Inc. increased its position in shares of Intuit by 96.5% in the third quarter. Marvin & Palmer Associates Inc. now owns 36,655 shares of the company’s stock valued at $4,032,000 after buying an additional 18,005 shares in the last quarter. Sawtooth Solutions LLC acquired a new position in shares of Intuit during the third quarter valued at approximately $239,000. Credit Suisse AG increased its position in shares of Intuit by 1.5% in the third quarter. Credit Suisse AG now owns 548,257 shares of the company’s stock valued at $60,314,000 after buying an additional 8,164 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Intuit by 9.2% in the third quarter. Ameritas Investment Partners Inc. now owns 10,453 shares of the company’s stock valued at $1,150,000 after buying an additional 879 shares in the last quarter. Institutional investors own 84.72% 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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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