Intuit (NASDAQ:INTU) had its price target raised by Stifel Nicolaus from $258.00 to $290.00 in a report published on Wednesday, The Fly reports. They currently have a buy rating on the software maker’s stock.
INTU has been the topic of a number of other research reports. Exane BNP Paribas initiated coverage on shares of Workday in a report on Friday, March 29th. They set an underperform rating on the stock. Morgan Stanley set a $28.00 target price on shares of BJs Wholesale Club and gave the company a hold rating in a report on Friday, May 24th. Barclays boosted their target price on shares of Intuit from $225.00 to $237.00 and gave the company an equal weight rating in a report on Friday, May 24th. ValuEngine lowered shares of W&T Offshore from a hold rating to a sell rating in a report on Friday, April 26th. Finally, Oppenheimer set a $68.00 target price on shares of ITT and gave the company a buy rating in a report on Wednesday, March 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $254.15.
Shares of NASDAQ:INTU opened at $281.65 on Wednesday. The firm has a market capitalization of $73.02 billion, a price-to-earnings ratio of 62.17, a PEG ratio of 3.19 and a beta of 1.09. The business’s fifty day simple moving average is $259.55. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10. Intuit has a 52 week low of $182.61 and a 52 week high of $281.84.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.43. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. Intuit’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.82 earnings per share. Research analysts anticipate that Intuit will post 5.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, July 9th. Intuit’s dividend payout ratio (DPR) is currently 41.50%.
In other Intuit news, CFO Michelle M. Clatterbuck sold 10,628 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the completion of the sale, the chief financial officer now directly owns 10,628 shares of the company’s stock, valued at $2,723,637.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Scott D. Cook sold 103,817 shares of Intuit stock in a transaction on Friday, June 7th. The shares were sold at an average price of $258.59, for a total transaction of $26,846,038.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 277,296 shares of company stock valued at $72,342,898. Insiders own 4.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of INTU. Bronfman E.L. Rothschild L.P. increased its position in shares of Intuit by 4.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,028 shares of the software maker’s stock worth $596,000 after acquiring an additional 132 shares in the last quarter. Strs Ohio increased its position in shares of Intuit by 0.5% during the first quarter. Strs Ohio now owns 379,414 shares of the software maker’s stock worth $99,182,000 after acquiring an additional 1,790 shares in the last quarter. FMR LLC increased its position in shares of Intuit by 10.0% during the first quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock worth $2,671,557,000 after acquiring an additional 930,221 shares in the last quarter. Lyell Wealth Management LP increased its position in shares of Intuit by 2.6% during the first quarter. Lyell Wealth Management LP now owns 23,215 shares of the software maker’s stock worth $6,069,000 after acquiring an additional 587 shares in the last quarter. Finally, Barbara Oil Co. bought a new stake in shares of Intuit during the first quarter worth about $209,000. 87.91% of the stock is owned by hedge funds and other institutional investors.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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