Intuit Inc. (NASDAQ:INTU) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Intuit Inc. (NASDAQ:INTU) have received an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $687.22.

INTU has been the subject of several analyst reports. Erste Group Bank restated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. UBS Group upped their price objective on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. KeyCorp upped their price objective on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Stifel Nicolaus reduced their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a research note on Thursday, June 13th.

Intuit Price Performance

Shares of INTU opened at $659.90 on Friday. The firm has a market cap of $184.47 billion, a PE ratio of 60.88, a P/E/G ratio of 3.75 and a beta of 1.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $620.43 and a two-hundred day simple moving average of $629.18. Intuit has a 1-year low of $444.19 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $7.80 EPS. On average, equities analysts anticipate that Intuit will post 11.72 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock valued at $114,442,445 in the last 90 days. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Institutional investors have recently modified their holdings of the stock. Parnassus Investments LLC increased its position in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares during the period. Maryland State Retirement & Pension System increased its holdings in Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after buying an additional 226 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after buying an additional 1,990 shares during the period. Glenmede Trust Co. NA increased its holdings in Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares during the period. Finally, Hixon Zuercher LLC purchased a new position in Intuit during the fourth quarter valued at approximately $1,292,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

About Intuit

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.