Intuit (NASDAQ:INTU – Get Rating) had its price target hoisted by KeyCorp from $425.00 to $450.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the software maker's stock.
Several other research firms also recently commented on INTU. Credit Suisse Group initiated coverage on Intuit in a research note on Monday, November 21st. They issued an outperform rating and a $500.00 price objective on the stock. Morgan Stanley decreased their price objective on Intuit from $550.00 to $520.00 and set an overweight rating on the stock in a research note on Tuesday, November 22nd. StockNews.com initiated coverage on Intuit in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Bank of America decreased their price objective on Intuit from $500.00 to $475.00 and set a buy rating on the stock in a research note on Wednesday, November 30th. Finally, JPMorgan Chase & Co. downgraded Intuit from an overweight rating to a neutral rating and set a $360.00 target price on the stock. in a research note on Monday, October 3rd. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $499.21.
Get Intuit alerts:Intuit Stock Up 3.0 %
INTU stock opened at $410.00 on Friday. Intuit has a fifty-two week low of $339.36 and a fifty-two week high of $579.96. The business's 50-day moving average is $392.91 and its two-hundred day moving average is $411.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $115.18 billion, a price-to-earnings ratio of 62.40, a P/E/G ratio of 2.99 and a beta of 1.15.
Intuit (NASDAQ:INTU – Get Rating) last posted its earnings results on Tuesday, November 29th. The software maker reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.49. Intuit had a return on equity of 14.31% and a net margin of 14.10%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. As a group, analysts forecast that Intuit will post 8.99 earnings per share for the current year.Intuit Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Tuesday, January 10th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.76%. The ex-dividend date was Monday, January 9th. Intuit's dividend payout ratio is presently 47.49%.
Insider Transactions at Intuit
In other news, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares in the company, valued at approximately $137,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Lauren D. Hotz sold 400 shares of Intuit stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $416.01, for a total value of $166,404.00. Following the completion of the transaction, the chief accounting officer now owns 2,067 shares in the company, valued at approximately $859,892.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares of the company's stock, valued at approximately $137,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,086 shares of company stock worth $1,258,434. 3.18% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Intuit
A number of large investors have recently bought and sold shares of INTU. Bishop Rock Capital L.P. boosted its holdings in Intuit by 27,658.9% during the 2nd quarter. Bishop Rock Capital L.P. now owns 4,562,453 shares of the software maker's stock valued at $11,837,000 after acquiring an additional 4,546,017 shares during the period. Magellan Asset Management Ltd boosted its holdings in Intuit by 184,265.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 1,279,493 shares of the software maker's stock valued at $495,573,000 after acquiring an additional 1,278,799 shares during the period. Renaissance Technologies LLC purchased a new position in Intuit during the 2nd quarter valued at $293,917,000. Price T Rowe Associates Inc. MD boosted its holdings in Intuit by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,749,565 shares of the software maker's stock valued at $6,841,392,000 after acquiring an additional 575,174 shares during the period. Finally, Whale Rock Capital Management LLC boosted its holdings in Intuit by 308.0% during the 2nd quarter. Whale Rock Capital Management LLC now owns 685,351 shares of the software maker's stock valued at $264,162,000 after acquiring an additional 517,362 shares during the period. Hedge funds and other institutional investors own 82.65% of the company's stock.
Intuit Company Profile
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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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