Intuit (INTU) Given “Outperform” Rating at Wells Fargo & Company

Wells Fargo & Company restated their outperform rating on shares of Intuit (NASDAQ:INTU) in a research report released on Tuesday, November 21st, The Fly reports. The firm currently has a $180.00 target price on the software maker’s stock, up from their previous target price of $163.00.

Other equities analysts also recently issued reports about the stock. Citigroup increased their price objective on shares of Intuit to $170.00 in a report on Tuesday, November 21st. Argus initiated coverage on shares of Intuit in a report on Wednesday, September 20th. They set a buy rating and a $165.00 price objective on the stock. Moffett Nathanson initiated coverage on shares of Intuit in a report on Thursday, September 7th. They set a buy rating and a $150.00 price objective on the stock. Zacks Investment Research raised shares of Intuit from a hold rating to a buy rating and set a $152.00 price objective on the stock in a report on Monday, August 28th. Finally, Jefferies Group started coverage on shares of Intuit in a report on Thursday, August 24th. They set a buy rating and a $157.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Intuit has an average rating of Hold and a consensus target price of $152.89.

Intuit (NASDAQ INTU) traded up $1.72 during trading hours on Tuesday, hitting $156.19. 943,422 shares of the stock were exchanged, compared to its average volume of 1,488,877. Intuit has a 1 year low of $111.90 and a 1 year high of $158.90. The firm has a market capitalization of $39,508.13, a price-to-earnings ratio of 41.32, a P/E/G ratio of 2.78 and a beta of 1.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The firm had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. equities research analysts forecast that Intuit will post 3.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Tuesday, January 9th. Intuit’s payout ratio is 41.38%.

In related news, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $141.16, for a total value of $25,879,286.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction that occurred on 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 transaction, the vice president now owns 1,713 shares of the company’s stock, valued at approximately $243,777.03. The disclosure for this sale can be found here. In the last three months, insiders sold 1,097,555 shares of company stock valued at $160,825,842. Insiders own 5.59% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $784,000. Coastline Trust Co purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $208,000. Americafirst Capital Management LLC purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $184,000. Cypress Capital Group lifted its position in shares of Intuit by 4.4% during the 3rd quarter. Cypress Capital Group now owns 18,007 shares of the software maker’s stock worth $2,560,000 after buying an additional 756 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $959,000. Institutional investors own 86.28% of the company’s stock.

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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.

The Fly

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