Intuit Inc. (INTU) Earns Hold Rating from Stifel Nicolaus
INTU has been the subject of several other reports. Jefferies Group LLC began coverage on shares of Intuit in a research note on Thursday, August 24th. They issued a buy rating and a $157.00 target price for the company. Deutsche Bank AG reaffirmed a buy rating and set a $150.00 price target on shares of Intuit in a report on Wednesday, August 23rd. Bank of America Corporation reaffirmed a buy rating and set a $145.00 price target on shares of Intuit in a report on Wednesday, August 23rd. Moffett Nathanson assumed coverage on Intuit in a report on Thursday, September 7th. They set a buy rating and a $150.00 price target for the company. Finally, Argus assumed coverage on Intuit in a report on Wednesday, September 20th. They set a buy rating and a $165.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $142.74.
Intuit (NASDAQ INTU) opened at 144.18 on Friday. Intuit has a 1-year low of $103.22 and a 1-year high of $146.72. The firm has a market capitalization of $36.76 billion, a PE ratio of 38.76 and a beta of 1.15. The company’s 50-day moving average is $141.39 and its 200 day moving average is $133.19.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the 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 $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. During the same period last year, the business earned $0.08 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that Intuit will post $4.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is currently 41.94%.
In related news, EVP Sasan K. Goodarzi sold 98,901 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $135.22, for a total value of $13,373,393.22. Following the transaction, the executive vice president now owns 7,801 shares in the company, valued at $1,054,851.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $144.20, for a total value of $257,108.60. Following the completion of the transaction, the executive vice president now owns 2,675 shares in the company, valued at approximately $385,735. The disclosure for this sale can be found here. Insiders sold 1,084,194 shares of company stock worth $151,162,540 in the last 90 days. 5.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors bought a new position in shares of Intuit in the second quarter worth $108,000. Guardian Life Insurance Co. of America increased its position 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 purchasing an additional 5 shares during the period. Shine Investment Advisory Services Inc. bought a new position in shares of Intuit in the second quarter worth $123,000. Johnson Financial Group Inc. increased its position 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 purchasing an additional 59 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Intuit in the second quarter worth $140,000. Institutional investors own 85.96% 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 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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