Intuit (INTU) Given “Buy” Rating at Deutsche Bank
Deutsche Bank reaffirmed their buy rating on shares of Intuit (NASDAQ:INTU) in a research note released on Tuesday morning. The brokerage currently has a $180.00 price objective on the software maker’s stock.
A number of other research firms also recently issued reports on INTU. Wells Fargo & Co raised Intuit from a market perform rating to an outperform rating and set a $163.00 price target on the stock in a research report on Thursday, September 21st. Raymond James Financial downgraded Intuit from a market perform rating to an underperform rating in a research report on Wednesday, September 27th. Credit Suisse Group reaffirmed an outperform rating and set a $185.00 price objective (up previously from $170.00) on shares of Intuit in a research report on Tuesday. Zacks Investment Research downgraded Intuit from a hold rating to a sell rating in a research report on Monday, November 27th. Finally, William Blair started coverage on Intuit in a research report on Tuesday, September 19th. They set an outperform rating on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $157.53.
Intuit (INTU) traded up $1.51 on Tuesday, hitting $164.51. The stock had a trading volume of 652,394 shares, compared to its average volume of 1,350,000. Intuit has a fifty-two week low of $111.90 and a fifty-two week high of $165.13. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.35. The company has a market cap of $42,060.00, a P/E ratio of 43.52, a price-to-earnings-growth ratio of 2.93 and a beta of 1.18.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Wednesday, January 10th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, January 9th. Intuit’s payout ratio is currently 41.27%.
In other Intuit news, EVP Henry Tayloe Stansbury sold 2,158 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.35, for a total value of $326,613.30. Following the completion of the sale, the executive vice president now owns 3,050 shares of the company’s stock, valued at $461,617.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mark J. Flournoy sold 13,424 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $155.56, for a total value of $2,088,237.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 965,938 shares of company stock worth $149,469,127. 5.59% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of INTU. Cambridge Investment Research Advisors Inc. acquired a new stake in Intuit in the second quarter worth about $291,000. Oppenheimer Asset Management Inc. boosted its holdings in Intuit by 10.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,304 shares of the software maker’s stock worth $970,000 after acquiring an additional 717 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Intuit by 218.4% in the second quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock worth $30,483,000 after acquiring an additional 157,101 shares in the last quarter. CIBC World Markets Inc. boosted its holdings in Intuit by 183.4% in the second quarter. CIBC World Markets Inc. now owns 6,295 shares of the software maker’s stock worth $836,000 after acquiring an additional 4,074 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its holdings in Intuit by 1.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 50,981 shares of the software maker’s stock worth $6,770,000 after acquiring an additional 775 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.
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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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