Intuit’s (INTU) “Hold” Rating Reiterated at Royal Bank Of Canada
Several other analysts have also recently weighed in on INTU. Benchmark Co. started coverage on shares of Intuit in a research report on Thursday, April 27th. They set a buy rating and a $140.00 price objective on the stock. Barclays PLC restated a hold rating and set a $130.00 price objective on shares of Intuit in a research report on Friday, April 28th. Stifel Nicolaus raised their price objective on shares of Intuit from $115.00 to $132.00 and gave the company a hold rating in a research report on Wednesday, May 24th. Deutsche Bank AG raised their price objective on shares of Intuit from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, May 25th. Finally, Bank of America Corporation raised their price objective on shares of Intuit from $130.00 to $145.00 and gave the company a buy rating in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $137.76.
Intuit (NASDAQ INTU) traded up 1.49% during trading on Thursday, hitting $137.35. The company had a trading volume of 1,530,029 shares. Intuit has a one year low of $103.22 and a one year high of $143.81. The stock has a 50-day moving average of $135.60 and a 200-day moving average of $129.04. The stock has a market capitalization of $35.30 billion, a PE ratio of 36.92 and a beta of 1.15.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same period in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Intuit will post $4.97 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is 36.56%.
In other Intuit news, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. In the last three months, insiders sold 595,109 shares of company stock worth $81,061,248. Insiders own 5.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in shares of Intuit during the second quarter worth about $108,000. Guardian Life Insurance Co. of America raised its stake in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Intuit during the second quarter worth $123,000. Johnson Financial Group Inc. raised its stake in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Intuit during the second quarter worth $140,000. 85.18% of the stock is currently owned by institutional investors and hedge funds.
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 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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