Intuit (NASDAQ:INTU) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Intuit (NASDAQ:INTU) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other brokerages also recently weighed in on INTU. Mizuho increased their price target on Intuit from $670.00 to $725.00 and gave the stock a buy rating in a report on Friday, February 23rd. Piper Sandler increased their price target on Intuit from $642.00 to $750.00 and gave the stock an overweight rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price target on Intuit from $560.00 to $585.00 and gave the stock a neutral rating in a report on Friday, February 23rd. BMO Capital Markets reaffirmed an outperform rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Finally, Barclays increased their price target on Intuit from $735.00 to $745.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $650.23.

Intuit Price Performance

INTU stock opened at $614.04 on Tuesday. The company has a market capitalization of $171.93 billion, a P/E ratio of 62.66, a PEG ratio of 3.75 and a beta of 1.22. Intuit has a twelve month low of $400.22 and a twelve month high of $671.01. The business has a 50 day simple moving average of $638.17 and a 200-day simple moving average of $605.07. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, equities analysts anticipate that Intuit will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Intuit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewSquare Capital LLC purchased a new stake in Intuit in the 3rd quarter valued at about $25,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Intuit in the 4th quarter valued at about $25,000. Cape Investment Advisory Inc. acquired a new position in shares of Intuit in the 3rd quarter valued at about $26,000. West Branch Capital LLC lifted its stake in shares of Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.