Intuit’s (INTU) Outperform Rating Reaffirmed at Wells Fargo

Intuit (NASDAQ:INTU)‘s stock had its “outperform” rating restated by stock analysts at Wells Fargo in a research note issued to investors on Thursday, The Fly reports. They currently have a $205.00 price objective on the software maker’s stock, up from their previous price objective of $195.00. Wells Fargo’s target price suggests a potential upside of 16.23% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Deutsche Bank reissued a “buy” rating and issued a $180.00 price objective on shares of Intuit in a research note on Tuesday, January 9th. Bank of America raised their price objective on Intuit from $172.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Argus raised their price objective on Intuit from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, February 26th. They noted that the move was a valuation call. Jefferies Group reissued a “buy” rating and issued a $220.00 price objective on shares of Intuit in a research note on Monday. Finally, Barclays reissued an “equal weight” rating and issued a $170.00 price objective (up from $168.00) on shares of Intuit in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $170.21.

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Shares of INTU stock opened at $176.37 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. Intuit has a twelve month low of $115.62 and a twelve month high of $182.93. The company has a market capitalization of $45,733.76, a P/E ratio of 46.78, a P/E/G ratio of 2.55 and a beta of 1.12.



Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $0.26 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. research analysts forecast that Intuit will post 4.28 EPS for the current year.

In other Intuit news, EVP Henry Tayloe Stansbury sold 9,666 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $171.59, for a total value of $1,658,588.94. Following the transaction, the executive vice president now directly owns 6,242 shares of the company’s stock, valued at approximately $1,071,064.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Scott D. Cook sold 159,556 shares of Intuit stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $170.26, for a total value of $27,166,004.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 849,809 shares of company stock worth $147,885,200. Company insiders own 5.59% of the company’s stock.

Large investors have recently made changes to their positions in the company. Captrust Financial Advisors acquired a new stake in shares of Intuit during the 4th quarter worth approximately $158,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $170,000. Lake Street Advisors Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $200,000. Trellis Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $201,000. Finally, Peak Asset Management LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $209,000. 87.23% of the stock is currently owned by institutional investors.

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About Intuit

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.

The Fly

Analyst Recommendations for Intuit (NASDAQ:INTU)

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