A number of research firms have changed their ratings and price targets for Intuit (NASDAQ: INTU):

  • 10/9/2018 – Intuit was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 10/8/2018 – Intuit is now covered by analysts at Deutsche Bank AG. They set a “buy” rating and a $265.00 price target on the stock.
  • 10/4/2018 – Intuit had its price target raised by analysts at Argus from $250.00 to $265.00. They now have a “buy” rating on the stock.
  • 10/3/2018 – Intuit was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating.
  • 9/28/2018 – Intuit had its price target raised by analysts at Credit Suisse Group AG from $230.00 to $250.00. They now have an “outperform” rating on the stock.
  • 9/28/2018 – Intuit had its price target raised by analysts at Oppenheimer Holdings Inc. from $224.00 to $239.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Intuit had its price target raised by analysts at Barclays PLC from $204.00 to $219.00. They now have an “equal weight” rating on the stock.
  • 8/31/2018 – Intuit was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 8/29/2018 – Intuit was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Intuit’s fiscal Q4 results were driven by impressive growth across its Small Business and Self-Employed, and Consumer Tax segments. Intuit is benefiting from frequent product refreshes, which help it to gain customers. It witnessed solid growth in QuickBooks Online subscriber base. TurboTax Live offering also is likely to be a tailwind to the Consumer tax business. Moreover, the company’s strategy of shifting its business to cloud-based subscription model will help generate more stable revenues over the long run. Intuit’s shares have outperformed the industry on a year-to-date basis. However, high costs and expenses remain a major concern. Competition from companies like Microsoft also increases pricing pressure. Again, due to the business being seasonal, Intuit is exposed to significant operational risks.”
  • 8/28/2018 – Intuit was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $243.00 price target on the stock. According to Zacks, “Intuit’s fiscal Q4 results were driven by impressive growth across its Small Business and Self-Employed, and Consumer Tax segments. Intuit is benefiting from frequent product refreshes, which help it to gain customers. It witnessed solid growth in QuickBooks Online subscriber base. TurboTax Live offering also is likely to be a tailwind to the Consumer tax business. Moreover, the company’s strategy of shifting its business to cloud-based subscription model will help generate more stable revenues over the long run. Intuit’s shares have outperformed the industry on a year-to-date basis. However, high costs and expenses remain a major concern. Competition from companies like Microsoft also increases pricing pressure. Again, due to the business being seasonal, Intuit is exposed to significant operational risks.”
  • 8/27/2018 – Intuit had its price target raised by analysts at Wells Fargo & Co from $215.00 to $235.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Credit Suisse Group AG from $215.00 to $230.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Oppenheimer Holdings Inc. from $206.00 to $224.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Citigroup Inc from $221.00 to $224.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Stifel Nicolaus from $240.00 to $250.00. They now have a “buy” rating on the stock.
  • 8/17/2018 – Intuit had its price target raised by analysts at Royal Bank of Canada to $240.00. They now have a “market perform” rating on the stock.
  • 8/15/2018 – Intuit had its price target raised by analysts at Barclays PLC from $194.00 to $204.00. They now have an “equal weight” rating on the stock.

NASDAQ:INTU opened at $204.44 on Thursday. Intuit Inc. has a 52 week low of $143.18 and a 52 week high of $231.84. The company has a market capitalization of $58.82 billion, a P/E ratio of 45.13, a PEG ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.14.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The firm had revenue of $988.00 million for the quarter, compared to the consensus estimate of $952.67 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 5.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Wednesday, October 10th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.92%. This is an increase from Intuit’s previous quarterly dividend of $0.39. Intuit’s dividend payout ratio is currently 34.44%.

In other Intuit news, VP Mark J. Flournoy sold 9,292 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $218.90, for a total transaction of $2,034,018.80. Following the completion of the sale, the vice president now owns 2,471 shares of the company’s stock, valued at $540,901.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brad D. Smith sold 254,325 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $227.66, for a total value of $57,899,629.50. Following the sale, the chief executive officer now directly owns 415,445 shares of the company’s stock, valued at approximately $94,580,208.70. The disclosure for this sale can be found here. Insiders sold 622,236 shares of company stock worth $137,883,071 in the last 90 days. 5.59% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Intuit by 5.2% during the second quarter. BlackRock Inc. now owns 17,394,902 shares of the software maker’s stock worth $3,553,866,000 after purchasing an additional 866,776 shares during the period. FMR LLC boosted its position in Intuit by 14.3% during the second quarter. FMR LLC now owns 10,343,136 shares of the software maker’s stock worth $2,113,155,000 after purchasing an additional 1,290,503 shares during the period. Fundsmith Equity Fund L.P. bought a new stake in Intuit during the second quarter worth approximately $810,956,000. OppenheimerFunds Inc. boosted its position in Intuit by 0.5% during the second quarter. OppenheimerFunds Inc. now owns 2,974,690 shares of the software maker’s stock worth $607,744,000 after purchasing an additional 16,086 shares during the period. Finally, Brown Advisory Inc. boosted its position in Intuit by 16.3% during the first quarter. Brown Advisory Inc. now owns 2,967,883 shares of the software maker’s stock worth $514,484,000 after purchasing an additional 416,938 shares during the period. 87.03% of the stock is owned by hedge funds and other institutional investors.

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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