Citigroup Inc. Boosts Intuit Inc. (INTU) Price Target to $170.00
Intuit Inc. (NASDAQ:INTU) had its price objective lifted by Citigroup Inc. to $170.00 in a report issued on Tuesday, The Fly reports.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group LLC reiterated a buy rating and issued a $185.00 target price on shares of Intuit in a research report on Tuesday. First Analysis upgraded shares of Intuit from an underweight rating to an equal weight rating and set a $128.00 target price for the company in a research report on Wednesday, August 23rd. Royal Bank Of Canada reiterated a hold rating and issued a $141.00 target price on shares of Intuit in a research report on Thursday, August 24th. Wells Fargo & Company upgraded shares of Intuit from a market perform rating to an outperform rating and set a $163.00 price target on the stock in a research note on Thursday, September 21st. Finally, Argus assumed coverage on shares of Intuit in a research note on Wednesday, September 20th. They set a buy rating and a $165.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $152.89.
Intuit (INTU) traded down $0.16 during mid-day trading on Tuesday, reaching $151.63. 1,821,700 shares of the company’s stock were exchanged, compared to its average volume of 1,482,027. 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. The stock has a market cap of $38,764.18, a P/E ratio of 40.54, a price-to-earnings-growth ratio of 2.72 and a beta of 1.18.
Intuit (NASDAQ:INTU) last released its earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. analysts expect that Intuit will post 3.96 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Wednesday, January 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a yield of 1.03%. Intuit’s payout ratio is presently 41.38%.
In other Intuit news, EVP Henry Tayloe Stansbury sold 28,048 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $146.19, for a total value of $4,100,337.12. Following the completion of the sale, the executive vice president now directly owns 28,940 shares of the company’s stock, valued at approximately $4,230,738.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 183,333 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total transaction of $26,618,118.27. The disclosure for this sale can be found here. Insiders sold a total of 619,922 shares of company stock worth $88,387,321 over the last quarter. 5.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. FineMark National Bank & Trust boosted its holdings in Intuit by 0.4% in the 2nd quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock valued at $361,000 after purchasing an additional 11 shares during the period. Cue Financial Group Inc. lifted its holdings in shares of Intuit by 0.3% during the 2nd quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock worth $930,000 after acquiring an additional 20 shares during the period. Wetherby Asset Management Inc. lifted its holdings in shares of Intuit by 0.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock worth $935,000 after acquiring an additional 27 shares during the period. Bank of Hawaii lifted its holdings in shares of Intuit by 1.2% during the 2nd quarter. Bank of Hawaii now owns 2,509 shares of the software maker’s stock worth $333,000 after acquiring an additional 30 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Intuit by 0.6% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 5,592 shares of the software maker’s stock worth $743,000 after acquiring an additional 36 shares during the period. 86.57% of the stock is owned by hedge funds and other 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 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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