Intuit Inc. (INTU) Stock Rating Reaffirmed by Deutsche Bank AG
Intuit Inc. (NASDAQ:INTU)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a report issued on Friday. They currently have a $130.00 price objective on the stock. Deutsche Bank AG’s target price indicates a potential upside of 14.24% from the company’s current price.
Other research analysts also recently issued reports about the company. Citigroup Inc. reissued a “buy” rating and issued a $128.00 price objective on shares of Intuit in a research note on Wednesday, August 24th. Morgan Stanley downgraded Intuit from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $109.54 to $105.00 in a research note on Tuesday, September 13th. Oppenheimer Holdings Inc. increased their price objective on Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Goldman Sachs Group Inc. increased their price objective on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $100.00 price objective on shares of Intuit in a research note on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $195.28.
Intuit (NASDAQ:INTU) traded up 1.92% during mid-day trading on Friday, hitting $115.98. The stock had a trading volume of 4,787,625 shares. The firm’s 50-day moving average price is $108.44 and its 200 day moving average price is $109.00. Intuit has a one year low of $88.17 and a one year high of $116.97. The company has a market cap of $29.92 billion, a PE ratio of 31.41 and a beta of 1.08.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 17th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business earned $778 million during the quarter, compared to the consensus estimate of $754.36 million. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. On average, equities research analysts anticipate that Intuit will post $4.34 EPS for the current year.
In related news, 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 sale, the executive vice president now directly owns 2,541 shares in the company, valued at $277,451.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO R Neil Williams sold 6,636 shares of Intuit stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.06, for a total value of $730,358.16. Following the completion of the sale, the chief financial officer now owns 4,727 shares in the company, valued at $520,253.62. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. LPL Financial LLC increased its stake in Intuit by 0.8% in the first quarter. LPL Financial LLC now owns 18,619 shares of the company’s stock worth $1,935,000 after buying an additional 155 shares during the period. Panagora Asset Management Inc. increased its stake in Intuit by 14.4% in the first quarter. Panagora Asset Management Inc. now owns 180,595 shares of the company’s stock worth $18,784,000 after buying an additional 22,759 shares during the period. Royal Bank of Canada increased its stake in Intuit by 9.0% in the first quarter. Royal Bank of Canada now owns 1,300,284 shares of the company’s stock worth $135,244,000 after buying an additional 107,176 shares during the period. Squarepoint Ops LLC increased its stake in Intuit by 106.7% in the first quarter. Squarepoint Ops LLC now owns 19,710 shares of the company’s stock worth $2,050,000 after buying an additional 10,174 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in Intuit by 8.0% in the first quarter. First Republic Investment Management Inc. now owns 35,292 shares of the company’s stock worth $3,670,000 after buying an additional 2,625 shares during the period. Hedge funds and other institutional investors own 84.72% 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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