Intuit Inc. (INTU) Given “Outperform” Rating at Wells Fargo & Company
Wells Fargo & Company reiterated their outperform rating on shares of Intuit Inc. (NASDAQ:INTU) in a research note issued to investors on Tuesday. The firm currently has a $180.00 price objective on the software maker’s stock, up from their prior price objective of $163.00.
Other equities analysts have also recently issued research reports about the company. Raymond James Financial, Inc. cut Intuit from a market perform rating to an underperform rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded Intuit from a hold rating to a buy rating and set a $152.00 price objective on the stock in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. upped their target price on Intuit from $146.00 to $159.00 and gave the company an outperform rating in a research report on Friday, October 27th. Moffett Nathanson started coverage on Intuit in a research note on Thursday, September 7th. They set a buy rating and a $150.00 price target on the stock. Finally, Citigroup Inc. upped their price target on Intuit to $170.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $152.89.
Shares of Intuit (INTU) opened at $151.79 on Tuesday. Intuit has a 1 year low of $111.48 and a 1 year high of $158.90. The firm has a market capitalization of $40,336.43, a price-to-earnings ratio of 42.19, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.73 and a quick ratio of 0.73.
Intuit (NASDAQ:INTU) last announced its earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.30. The company had revenue of $886.00 million for the quarter, compared to analysts’ expectations of $855.74 million. Intuit had a return on equity of 76.41% and a net margin of 18.62%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. equities research analysts anticipate that Intuit will post 4.03 EPS for the current fiscal year.
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In other news, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $135.22, for a total value of $24,790,423.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO R Neil Williams sold 184,585 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the completion of the sale, the chief financial officer now directly owns 64,620 shares in the company, valued at $9,118,528.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,084,194 shares of company stock worth $151,162,540. Insiders own 5.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in INTU. Coastline Trust Co purchased a new stake in Intuit during the 3rd quarter valued at $208,000. Americafirst Capital Management LLC purchased a new stake in Intuit during the 3rd quarter valued at $184,000. Cypress Capital Group raised its stake in Intuit by 4.4% during the 3rd quarter. Cypress Capital Group now owns 18,007 shares of the software maker’s stock valued at $2,560,000 after buying an additional 756 shares during the last quarter. IFM Investors Pty Ltd purchased a new stake in Intuit during the 3rd quarter valued at $959,000. Finally, California Public Employees Retirement System raised its stake in Intuit by 2.9% during the 3rd quarter. California Public Employees Retirement System now owns 578,456 shares of the software maker’s stock valued at $82,222,000 after buying an additional 16,156 shares during the last quarter. Institutional investors own 86.57% 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 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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