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

Intuit Inc. (NASDAQ:INTU – Get Rating) has earned an average recommendation of “Buy” from the twenty-four research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $611.45.

INTU has been the topic of a number of recent research reports. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $492.00 price objective on the stock in a research report on Wednesday, March 2nd. Edward Jones raised Intuit from a “hold” rating to a “buy” rating in a research report on Friday, March 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Intuit from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Wolfe Research lowered their target price on shares of Intuit from $790.00 to $600.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Finally, Mizuho lowered their target price on shares of Intuit from $730.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, February 3rd.

Shares of NASDAQ INTU opened at $371.76 on Friday. The firm has a market cap of $105.14 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 2.84 and a beta of 1.16. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. Intuit has a 52-week low of $339.36 and a 52-week high of $716.86. The business’s 50 day moving average is $450.35 and its two-hundred day moving average is $539.93.

Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The software maker reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.26). Intuit had a return on equity of 20.37% and a net margin of 19.03%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue was up 69.6% compared to the same quarter last year. Analysts anticipate that Intuit will post 8.14 EPS 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. This represents a $2.72 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, April 8th. Intuit’s payout ratio is currently 34.69%.

In related news, EVP Laura A. Fennell sold 59,286 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total transaction of $28,162,628.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Alexander Chriss sold 368 shares of the stock in a transaction on Monday, February 28th. The stock was 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. 3.27% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. JNBA Financial Advisors acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. Castleview Partners LLC purchased a new position in Intuit in the fourth quarter worth $25,000. Mascoma Wealth Management LLC raised its position in Intuit by 3,900.0% in the fourth quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock worth $26,000 after acquiring an additional 39 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Intuit in the fourth quarter worth $26,000. Finally, San Luis Wealth Advisors LLC purchased a new position in Intuit in the first quarter worth $26,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

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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