Brokerages Set Intuit Inc. (INTU) Target Price at $205.96
Shares of Intuit Inc. (NASDAQ:INTU) have earned a consensus recommendation of “Buy” from the eighteen research firms that are presently covering the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $205.96.
Several equities research analysts have recently commented on INTU shares. Brean Capital reiterated a “buy” rating and set a $130.00 price target on shares of Intuit in a research report on Monday, June 20th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $123.00 price target (up previously from $117.00) on shares of Intuit in a research report on Thursday, June 23rd. Zacks Investment Research upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Wednesday, June 29th. Barclays PLC cut shares of Intuit from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $110.00 to $116.00 in a research report on Friday, July 15th. Finally, Vetr upgraded shares of Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price target for the company in a research report on Monday, July 18th.
Shares of Intuit (NASDAQ:INTU) opened at 106.99 on Wednesday. Intuit has a 12-month low of $88.17 and a 12-month high of $116.97. The firm has a 50-day moving average price of $109.50 and a 200 day moving average price of $108.09. The company has a market capitalization of $27.60 billion, a P/E ratio of 28.97 and a beta of 1.10.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The company earned $754 million during the quarter, compared to analysts’ expectations of $735.35 million. During the same quarter in the previous year, the company earned ($0.05) EPS. Intuit’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Intuit will post $4.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.27%. This is an increase from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 5th. Intuit’s payout ratio is presently 36.17%.
In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $109.19, for a total transaction of $204,294.49. Following the transaction, the executive vice president now directly owns 2,541 shares in the company, valued at $277,451.79. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. RS Investment Management Co. LLC increased its position in shares of Intuit by 0.8% in the second quarter. RS Investment Management Co. LLC now owns 184,640 shares of the company’s stock worth $20,608,000 after buying an additional 1,490 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of Intuit by 1.4% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 139,874 shares of the company’s stock worth $15,611,000 after buying an additional 1,955 shares during the last quarter. Strs Ohio increased its position in shares of Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock worth $63,371,000 after buying an additional 384,420 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Intuit by 166.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 689,800 shares of the company’s stock worth $71,746,000 after buying an additional 430,600 shares during the last quarter. Finally, Mar Vista Investment Partners LLC increased its position in shares of Intuit by 5.3% in the second quarter. Mar Vista Investment Partners LLC now owns 577,822 shares of the company’s stock worth $64,491,000 after buying an additional 29,287 shares during the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.
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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