Intuit’s (INTU) “Hold” Rating Reaffirmed at JPMorgan Chase & Co.
Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity reaffirmed a buy rating and issued a $750.00 target price on shares of Intuit in a research report on Friday, July 22nd. Zacks Investment Research cut shares of Intuit from a buy rating to a hold rating in a research report on Wednesday, July 27th. RBC Capital Markets reaffirmed a sector perform rating and issued a $113.00 target price (up from $93.00) on shares of Intuit in a research report on Monday, August 15th. Evercore ISI initiated coverage on shares of Intuit in a research report on Wednesday. They issued a hold rating for the company. Finally, Royal Bank Of Canada decreased their price target on shares of Intuit from $113.00 to $93.00 and set a sector perform rating for the company in a research note on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Intuit currently has an average rating of Hold and a consensus price target of $194.97.
Intuit (NASDAQ:INTU) traded up 1.49% on Thursday, reaching $115.49. 1,538,092 shares of the company traded hands. The company has a market capitalization of $29.79 billion, a PE ratio of 31.27 and a beta of 1.08. Intuit has a one year low of $88.17 and a one year high of $116.97. The stock’s 50 day moving average price is $108.44 and its 200 day moving average price is $109.00.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 17th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The firm earned $778 million during the quarter, compared to analysts’ expectations of $754.36 million. During the same period last year, the company posted $0.09 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Intuit will post $4.34 EPS for the current fiscal year.
In related news, EVP Sasan K. Goodarzi sold 7,350 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $110.00, for a total value of $808,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sasan K. Goodarzi sold 18,567 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $109.78, for a total transaction of $2,038,285.26. Following the completion of the sale, the executive vice president now directly owns 1,492 shares of the company’s stock, valued at $163,791.76. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in INTU. LPL Financial LLC raised 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. raised 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 raised 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 raised 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. raised 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. 84.72% of the stock is 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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
Receive News & Stock Ratings for Intuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit Inc. and related stocks with our FREE daily email newsletter.