Intuit (NASDAQ:INTU) Now Covered by CLSA

CLSA started coverage on shares of Intuit (NASDAQ:INTU) in a report issued on Thursday, MarketBeat Ratings reports. The firm issued an outperform rating and a $900.00 price objective on the software maker’s stock.

INTU has been the subject of several other research reports. Stifel Nicolaus lifted their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Citigroup reiterated a “buy” rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Susquehanna reissued a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Finally, HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $793.05.

Intuit Price Performance

INTU opened at $772.86 on Thursday. The stock has a market cap of $215.59 billion, a price-to-earnings ratio of 62.73, a PEG ratio of 3.37 and a beta of 1.28. Intuit has a 1 year low of $532.65 and a 1 year high of $773.45. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $696.71 and a 200 day moving average price of $637.71.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $9.88 EPS. Analysts forecast that Intuit will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is presently 33.77%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president now directly owns 23,101 shares of the company’s stock, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,158 shares of company stock worth $202,989,194 over the last three months. Company insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Several institutional investors have recently bought and sold shares of INTU. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker’s stock worth $16,780,536,000 after purchasing an additional 294,993 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Intuit by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker’s stock worth $5,537,435,000 after buying an additional 649,212 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after buying an additional 132,384 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Intuit by 6.8% in the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker’s stock valued at $3,472,266,000 after acquiring an additional 358,328 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Intuit in the fourth quarter valued at approximately $2,290,419,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Company Profile

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.