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

Shares of Intuit Inc. (NASDAQ:INTUGet Rating) have been assigned a consensus rating of “Buy” from the twenty-five analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $618.45.

Several research firms have weighed in on INTU. StockNews.com began coverage on Intuit in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Wolfe Research lowered their target price on Intuit from $790.00 to $600.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Bank of America lowered their target price on Intuit from $750.00 to $650.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Wells Fargo & Company decreased their price objective on Intuit from $775.00 to $725.00 and set an “overweight” rating on the stock in a research note on Thursday, February 17th. Finally, Jefferies Financial Group decreased their price objective on Intuit from $790.00 to $700.00 and set a “buy” rating on the stock in a research note on Friday, February 25th.

In other news, EVP Laura A. Fennell sold 59,286 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total value of $28,162,628.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 368 shares of the stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $478.84, for a total value of $176,213.12. The disclosure for this sale can be found here. Company insiders own 3.27% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. JNBA Financial Advisors acquired a new stake in shares of Intuit in the fourth quarter valued at about $25,000. Mascoma Wealth Management LLC grew its stake in Intuit by 3,900.0% during the 4th quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock valued at $26,000 after purchasing an additional 39 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Intuit during the 4th quarter valued at approximately $30,000. Princeton Global Asset Management LLC grew its stake in Intuit by 66.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 50 shares of the software maker’s stock valued at $27,000 after purchasing an additional 20 shares in the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 81.40% of the company’s stock.

Shares of INTU stock opened at $485.07 on Wednesday. The business’s fifty day moving average price is $478.42 and its 200 day moving average price is $557.93. Intuit has a 1-year low of $385.66 and a 1-year high of $716.86. The firm has a market capitalization of $137.18 billion, a PE ratio of 61.87, a P/E/G ratio of 3.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.18.

Intuit (NASDAQ:INTUGet Rating) last posted its earnings results on Thursday, February 24th. The software maker reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.26). The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.72 billion. Intuit had a net margin of 19.03% and a return on equity of 20.37%. The firm’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. Equities research analysts expect that Intuit will post 8.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.56%. Intuit’s dividend payout ratio (DPR) is 34.69%.

About Intuit (Get Rating)

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 ProConnect.

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