A number of other equities research analysts have also recently commented on the stock. Raymond James Financial, Inc. cut shares of Intuit from a market perform rating to an underperform rating in a report on Wednesday, September 27th. UBS AG cut shares of Intuit to an underperform rating in a report on Wednesday, September 27th. Wells Fargo & Company upgraded shares of Intuit from a market perform rating to an outperform rating and set a $163.00 price target for the company in a report on Thursday, September 21st. Argus began coverage on shares of Intuit in a report on Wednesday, September 20th. They issued a buy rating and a $165.00 price target for the company. Finally, William Blair began coverage on shares of Intuit in a report on Tuesday, September 19th. They issued an outperform rating for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Intuit has a consensus rating of Hold and a consensus price target of $142.74.
Shares of Intuit (INTU) traded up 1.20% during trading on Friday, hitting $144.18. 992,714 shares of the stock traded hands. The firm has a market capitalization of $36.76 billion, a price-to-earnings ratio of 38.76 and a beta of 1.15. Intuit has a 1-year low of $103.22 and a 1-year high of $146.72. The firm has a 50-day moving average of $141.39 and a 200-day moving average of $133.19.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The company had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. Intuit’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. On average, equities analysts forecast that Intuit will post $4.95 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be given a $0.39 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 annualized dividend and a yield of 1.08%. Intuit’s payout ratio is currently 36.56%.
In other news, Chairman Scott D. Cook sold 182,037 shares of Intuit stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $135.20, for a total value of $24,611,402.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of Intuit stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $144.20, for a total transaction of $257,108.60. Following the completion of the transaction, the executive vice president now owns 2,675 shares of the company’s stock, valued at approximately $385,735. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,084,194 shares of company stock worth $151,162,540. Insiders own 5.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of INTU. Captrust Financial Advisors purchased a new position in Intuit during the second quarter valued at approximately $108,000. Guardian Life Insurance Co. of America grew its stake in Intuit by 0.5% during the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after acquiring an additional 5 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Intuit during the second quarter valued at approximately $123,000. Johnson Financial Group Inc. grew its stake in Intuit by 5.8% during the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after acquiring an additional 59 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Intuit during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.
Intuit Company Profile
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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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