Intuit (INTU) Receives New Coverage from Analysts at Deutsche Bank

Research analysts at Deutsche Bank assumed coverage on shares of Intuit (NASDAQ:INTU) in a report released on Monday, The Fly reports. The firm set a “buy” rating on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. Barclays increased their target price on shares of Intuit from $194.00 to $204.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 15th. Guggenheim began coverage on shares of Intuit in a report on Tuesday, August 7th. They set a “buy” rating and a $250.00 price objective for the company. BidaskClub lowered shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, July 27th. Wells Fargo & Co increased their price objective on shares of Intuit from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 27th. Finally, Stifel Nicolaus raised shares of Intuit from a “hold” rating to a “buy” rating and increased their price objective for the company from $197.00 to $240.00 in a report on Monday, June 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $219.88.

Intuit stock traded down $4.97 during midday trading on Monday, hitting $217.34. The stock had a trading volume of 1,842,088 shares, compared to its average volume of 1,444,703. The firm has a market capitalization of $58.82 billion, a price-to-earnings ratio of 47.98, a P/E/G ratio of 2.41 and a beta of 1.20. Intuit has a 52-week low of $143.18 and a 52-week high of $231.84. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The company had revenue of $988.00 million during the quarter, compared to analyst estimates of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. On average, analysts predict that Intuit will post 5.23 EPS for the current year.

In other news, insider Scott D. Cook sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $221.58, for a total transaction of $22,158,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henry Tayloe Stansbury sold 3,651 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $221.54, for a total value of $808,842.54. Following the transaction, the executive vice president now owns 4,048 shares of the company’s stock, valued at $896,793.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 622,236 shares of company stock valued at $137,883,071. Insiders own 5.59% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of INTU. Fundsmith Equity Fund L.P. bought a new position in shares of Intuit during the 2nd quarter valued at approximately $810,956,000. FMR LLC boosted its position in shares of Intuit by 14.3% during the 2nd quarter. FMR LLC now owns 10,343,136 shares of the software maker’s stock valued at $2,113,155,000 after acquiring an additional 1,290,503 shares during the last quarter. BlackRock Inc. boosted its position in shares of Intuit by 5.2% during the 2nd quarter. BlackRock Inc. now owns 17,394,902 shares of the software maker’s stock valued at $3,553,866,000 after acquiring an additional 866,776 shares during the last quarter. Morgan Stanley boosted its position in shares of Intuit by 25.1% during the 2nd quarter. Morgan Stanley now owns 2,623,888 shares of the software maker’s stock valued at $536,074,000 after acquiring an additional 525,743 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Intuit by 287.7% during the 2nd quarter. Millennium Management LLC now owns 639,961 shares of the software maker’s stock valued at $130,747,000 after acquiring an additional 474,879 shares during the last quarter. Hedge funds and other institutional investors own 87.03% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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