BidaskClub lowered shares of Intuit (NASDAQ:INTU) from a strong-buy rating to a buy rating in a research note released on Tuesday.
INTU has been the subject of a number of other reports. Royal Bank of Canada upped their price objective on shares of Intuit to $240.00 and gave the stock a market perform rating in a report on Friday, August 17th. Zacks Investment Research cut shares of Intuit from a buy rating to a hold rating in a report on Tuesday, July 24th. Bank of America upped their price objective on shares of Intuit from $204.00 to $227.00 and gave the stock a buy rating in a report on Monday, June 11th. Oppenheimer upped their price objective on shares of Intuit from $224.00 to $239.00 and gave the stock an outperform rating in a report on Friday, September 28th. Finally, Credit Suisse Group upped their price objective on shares of Intuit from $215.00 to $230.00 and gave the stock an outperform rating in a report on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Intuit presently has a consensus rating of Buy and a consensus price target of $224.29.
NASDAQ INTU opened at $211.82 on Tuesday. Intuit has a 1-year low of $144.52 and a 1-year high of $231.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $58.82 billion, a PE ratio of 46.28, a P/E/G ratio of 2.41 and a beta of 1.20.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. The business had revenue of $988.00 million for the quarter, compared to the consensus estimate of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. Intuit’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. On average, sell-side analysts predict that Intuit will post 5.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.89%. This is a boost from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, October 9th. Intuit’s dividend payout ratio is 41.50%.
In other Intuit news, Chairman Scott D. Cook sold 100,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $211.66, for a total transaction of $21,166,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 3,651 shares of the company’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $221.54, for a total transaction of $808,842.54. Following the sale, 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. Insiders have sold 622,236 shares of company stock valued at $137,883,071 over the last 90 days. Corporate insiders own 5.59% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Community Bank & Trust Waco Texas bought a new stake in Intuit during the third quarter valued at about $203,000. Broadleaf Partners LLC boosted its holdings in Intuit by 35.6% during the third quarter. Broadleaf Partners LLC now owns 12,492 shares of the software maker’s stock valued at $2,841,000 after acquiring an additional 3,280 shares during the period. Baxter Bros Inc. boosted its holdings in Intuit by 2.4% during the third quarter. Baxter Bros Inc. now owns 91,317 shares of the software maker’s stock valued at $20,765,000 after acquiring an additional 2,161 shares during the period. World Asset Management Inc boosted its holdings in Intuit by 4.4% during the third quarter. World Asset Management Inc now owns 17,837 shares of the software maker’s stock valued at $4,056,000 after acquiring an additional 745 shares during the period. Finally, Iberiabank Corp bought a new stake in Intuit during the third quarter valued at about $2,999,000. Institutional investors own 87.03% of the company’s stock.
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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