Shares of Intuit Inc. (NASDAQ:INTU) have been assigned a consensus rating of “Buy” from the twenty-one brokerages that are currently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $142.29.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Monday, August 28th. Citigroup Inc. boosted their target price on Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Deutsche Bank AG boosted their target price on Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Bank of America Corporation boosted their target price on Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Finally, Credit Suisse Group boosted their target price on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, May 25th.
In other news, Chairman Scott D. Cook sold 183,334 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $135.22, for a total transaction of $24,790,423.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R Neil Williams sold 184,585 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 872,901 shares of company stock valued at $120,440,104. Corporate insiders own 5.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in shares of Intuit during the 2nd quarter valued at $108,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Intuit during the 2nd quarter valued at $123,000. Guardian Life Insurance Co. of America lifted its position in shares of Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after acquiring an additional 5 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Intuit during the 2nd quarter valued at $140,000. Finally, ETF Managers Group LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $140,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.
Intuit (NASDAQ:INTU) traded down 0.25% during midday trading on Friday, hitting $144.97. The stock had a trading volume of 1,249,836 shares. The firm has a market capitalization of $36.96 billion, a price-to-earnings ratio of 38.97 and a beta of 1.15. Intuit has a 1-year low of $103.22 and a 1-year high of $146.04. The firm has a 50-day moving average price of $138.84 and a 200-day moving average price of $131.54.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. On average, equities research analysts anticipate that Intuit will post $4.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is presently 36.56%.
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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