Intuit Inc. (NASDAQ:INTU) had its price target lifted by Royal Bank Of Canada from $141.00 to $160.00 in a research note released on Thursday. They currently have a sector perform rating on the software maker’s stock.
Several other equities research analysts have also recently weighed in on INTU. First Analysis upgraded shares of Intuit from an underweight rating to an equal weight rating and set a $128.00 price target on the stock in a research report on Wednesday, August 23rd. Credit Suisse Group restated an outperform rating and issued a $155.00 price target (up previously from $150.00) on shares of Intuit in a research report on Wednesday, August 23rd. Deutsche Bank AG restated a buy rating and issued a $150.00 price target on shares of Intuit in a research report on Wednesday, August 23rd. Bank of America Corporation reiterated a buy rating and set a $145.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. boosted their price objective on shares of Intuit from $141.00 to $146.00 and gave the company an outperform rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $147.16.
Shares of Intuit (NASDAQ:INTU) traded up $0.90 on Thursday, reaching $156.55. 1,247,027 shares of the company traded hands, compared to its average volume of 1,474,042. Intuit has a 12 month low of $111.48 and a 12 month high of $156.71. The company has a market capitalization of $40,000.00, a PE ratio of 41.17, a PEG ratio of 2.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.73 and a quick ratio of 0.73.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. Intuit’s quarterly revenue was up 11.7% on a year-over-year basis. analysts anticipate that Intuit will post 4.03 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were paid a dividend of $0.39 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, October 6th. Intuit’s payout ratio is currently 41.82%.
In related news, CFO R Neil Williams sold 184,585 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark J. Flournoy sold 1,868 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $142.31, for a total transaction of $265,835.08. Following the completion of the sale, the vice president now directly owns 1,713 shares of the company’s stock, valued at $243,777.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,084,194 shares of company stock valued at $151,162,540. 5.70% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in INTU. Exane Derivatives purchased a new stake in Intuit in the third quarter worth about $105,000. Captrust Financial Advisors bought a new position in Intuit in the second quarter worth about $108,000. Horan Capital Advisors LLC. bought a new position in Intuit in the third quarter worth about $114,000. Shine Investment Advisory Services Inc. bought a new position in Intuit in the second quarter worth about $123,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Intuit in the second quarter worth about $140,000. 86.10% of the stock is owned by institutional investors.
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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