Intuit Inc. (INTU) Research Coverage Started at Jefferies Group LLC
Jefferies Group LLC initiated coverage on shares of Intuit Inc. (NASDAQ:INTU) in a report published on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $157.00 price objective on the software maker’s stock.
A number of other brokerages also recently commented on INTU. Stifel Nicolaus lifted their price objective on Intuit from $115.00 to $132.00 and gave the stock a hold rating in a research report on Wednesday, May 24th. First Analysis upgraded Intuit from an underweight rating to an equal weight rating and set a $128.00 price objective on the stock in a research report on Wednesday, August 23rd. Royal Bank Of Canada reiterated a hold rating and set a $141.00 price objective on shares of Intuit in a research report on Thursday. Citigroup Inc. downgraded Intuit from a buy rating to a neutral rating and reduced their price objective for the stock from $148.00 to $141.00 in a research report on Monday, June 26th. Finally, Oppenheimer Holdings, Inc. lifted their price objective on Intuit from $141.00 to $146.00 and gave the stock an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $137.76.
Intuit (NASDAQ INTU) opened at 137.35 on Thursday. The company has a market capitalization of $35.30 billion, a PE ratio of 36.92 and a beta of 1.15. Intuit has a 12 month low of $103.22 and a 12 month high of $143.81. The firm’s 50-day moving average is $135.60 and its 200-day moving average is $129.04.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm had revenue of $842 million for the quarter, compared to the consensus estimate of $808.82 million. During the same quarter last year, the business posted $0.08 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Intuit will post $4.98 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is currently 36.56%.
In related news, EVP Daniel A. Wernikoff sold 15,684 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The disclosure for this sale can be found here. Insiders sold a total of 595,109 shares of company stock worth $81,061,248 in the last quarter. Company insiders own 5.70% of the company’s stock.
Several large investors have recently bought and sold shares of INTU. Captrust Financial Advisors purchased a new stake in Intuit during the second quarter valued at about $108,000. Shine Investment Advisory Services Inc. bought a new position in Intuit during the second quarter valued at approximately $123,000. Guardian Life Insurance Co. of America boosted its position in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after buying an additional 5 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Intuit during the second quarter valued at approximately $140,000. Finally, ETF Managers Group LLC bought a new position in Intuit during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.
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.
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