Intuit Inc. (INTU) Reaches New 52-Week High at $116.72
Intuit Inc. (NASDAQ:INTU) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $116.72 and last traded at $116.61, with a volume of 589,175 shares trading hands. The stock had previously closed at $115.63.
A number of equities research analysts have recently issued reports on INTU shares. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research note on Monday, March 21st. Morgan Stanley reissued a “hold” rating and issued a $105.00 price target on shares of Intuit in a research note on Friday, April 8th. Goldman Sachs Group Inc. started coverage on shares of Intuit in a research note on Monday, May 23rd. They issued a “buy” rating and a $117.00 price target on the stock. Brean Capital started coverage on shares of Intuit in a research note on Thursday, April 14th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Bank of America Corp. reissued a “buy” rating on shares of Intuit in a research note on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $109.50.
The firm has a 50 day moving average price of $108.22 and a 200 day moving average price of $101.18. The firm has a market capitalization of $29.77 billion and a PE ratio of 30.39.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, May 24th. The company reported $3.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.21 by $0.22. The business earned $2.30 billion during the quarter. During the same quarter last year, the firm earned $2.85 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post $3.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Tuesday, July 12th will be issued a $0.30 dividend. The ex-dividend date is Friday, July 8th. This represents a $1.20 annualized dividend and a yield of 1.04%.
In related news, EVP Henry Tayloe Stansbury sold 2,787 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $103.86, for a total value of $289,457.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diane B. Greene sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $105.01, for a total transaction of $3,150,300.00. Following the completion of the transaction, the director now owns 37,393 shares in the company, valued at approximately $3,926,638.93. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of the stock. Morgan Stanley raised its position in Intuit by 25.4% in the fourth quarter. Morgan Stanley now owns 2,755,087 shares of the company’s stock valued at $265,865,000 after buying an additional 557,574 shares during the last quarter. Marshall Wace LLP raised its stake in Intuit by 491.4% in the fourth quarter. Marshall Wace LLP now owns 570,208 shares of the company’s stock worth $55,025,000 after buying an additional 473,793 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Intuit by 48.8% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 704,700 shares of the company’s stock worth $68,003,000 after buying an additional 230,996 shares in the last quarter. UBS Oconnor LLC purchased a new stake in Intuit during the fourth quarter worth about $11,098,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Intuit during the fourth quarter worth about $9,978,000.
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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