Intuit Inc. (NASDAQ:INTU) Receives Average Rating of “Moderate Buy” from Analysts

Intuit Inc. (NASDAQ:INTU) has received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $645.00.

A number of research firms have recently weighed in on INTU. JPMorgan Chase & Co. lifted their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Stifel Nicolaus lifted their price target on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. KeyCorp lifted their price target on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Evercore ISI boosted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Barclays boosted their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd.

Intuit Stock Performance

Shares of INTU stock opened at $608.38 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $643.99 and a two-hundred day moving average of $598.45. Intuit has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a market cap of $170.35 billion, a P/E ratio of 62.08, a PEG ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, analysts anticipate that Intuit will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INTU. Fairfield Bush & CO. raised its position in shares of Intuit by 39.6% during the first quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after buying an additional 1,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Intuit by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after acquiring an additional 48,196 shares during the period. Cetera Investment Advisers increased its stake in Intuit by 8.4% in the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock valued at $1,552,000 after acquiring an additional 249 shares during the period. Baird Financial Group Inc. increased its stake in Intuit by 7.1% in the first quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock valued at $25,825,000 after acquiring an additional 3,576 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Intuit by 6.6% in the first quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock valued at $16,448,000 after acquiring an additional 2,127 shares during the period. 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.