Oppenheimer Holdings, Inc. Reiterates Buy Rating for Intuit Inc. (INTU)
Intuit Inc. (NASDAQ:INTU)‘s stock had its “buy” rating restated by investment analysts at Oppenheimer Holdings, Inc. in a research report issued on Tuesday. They presently have a $166.00 price target on the software maker’s stock, up from their previous price target of $159.00. Oppenheimer Holdings, Inc.’s price target would suggest a potential upside of 9.48% from the stock’s current price.
Several other equities research analysts also recently issued reports on INTU. First Analysis upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price on the stock in a research report on Wednesday, August 23rd. Credit Suisse Group reiterated an “outperform” rating and issued a $155.00 price objective (up previously from $150.00) on shares of Intuit in a research report on Wednesday, August 23rd. Deutsche Bank AG reiterated a “buy” rating and issued a $150.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. Bank of America Corporation reiterated a “buy” rating and issued a $145.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $141.00 price objective on shares of Intuit in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. Intuit presently has a consensus rating of “Hold” and an average target price of $152.89.
Shares of Intuit (INTU) opened at $151.63 on Tuesday. The stock has a market capitalization of $38,805.08, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. Intuit has a 12-month low of $111.48 and a 12-month high of $158.90. The company has a current ratio of 0.67, a quick ratio of 0.73 and a debt-to-equity ratio of 0.35.
Intuit (NASDAQ:INTU) last posted its earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.30. The firm had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. sell-side analysts forecast that Intuit will post 4.03 EPS for the current year.
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In other news, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $135.22, for a total transaction of $24,790,423.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO R Neil Williams sold 184,585 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $141.11, for a total value of $26,046,789.35. Following the transaction, 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. Insiders have sold 803,256 shares of company stock worth $113,177,745 over the last ninety days. Insiders own 5.70% of the company’s stock.
Several large investors have recently made changes to their positions in INTU. Exane Derivatives bought a new position in shares of Intuit during the third quarter valued at about $105,000. Captrust Financial Advisors bought a new position in shares of Intuit during the second quarter valued at about $108,000. Horan Capital Advisors LLC. bought a new position in shares of Intuit during the third quarter valued at about $114,000. Shine Investment Advisory Services Inc. bought a new position in shares of Intuit during the second quarter valued at about $123,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Intuit during the second quarter valued at about $140,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
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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