Intuit Inc. (NASDAQ:INTU) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Intuit Inc. (NASDAQ:INTU) have received an average recommendation of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $720.37.

Several analysts have recently issued reports on the company. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup increased their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. In the last three months, insiders sold 16,940 shares of company stock valued at $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth $35,000. Finally, Trifecta Capital Advisors LLC grew its holdings in shares of Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 0.2 %

Intuit stock opened at $644.82 on Wednesday. Intuit has a 1 year low of $473.56 and a 1 year high of $676.62. The firm’s 50 day moving average price is $636.25 and its 200-day moving average price is $631.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $180.26 billion, a P/E ratio of 59.49, a PEG ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities analysts predict that Intuit will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 38.38%.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.