Intuit (NASDAQ:INTU) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Intuit (NASDAQ:INTU) from a hold rating to a buy rating in a report published on Tuesday morning.

Other analysts have also recently issued reports about the company. Piper Sandler boosted their price objective on Intuit from $642.00 to $750.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Evercore ISI upped their price target on Intuit from $670.00 to $725.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Susquehanna upped their price target on Intuit from $700.00 to $775.00 and gave the company a positive rating in a research report on Friday, February 23rd. Barclays upped their price target on Intuit from $735.00 to $745.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Finally, Mizuho upped their price target on Intuit from $670.00 to $725.00 and gave the company a buy rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of Moderate Buy and an average target price of $650.23.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $629.27 on Tuesday. 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’s 50 day moving average is $638.17 and its two-hundred day moving average is $605.07. The company has a market cap of $176.20 billion, a P/E ratio of 64.21, a P/E/G ratio of 3.75 and a beta of 1.22. Intuit has a 12 month low of $400.22 and a 12 month high of $671.01.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business 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%. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. On average, equities analysts expect that Intuit will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced 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 dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 in the last three months. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTU. NewSquare Capital LLC bought a new position in shares of Intuit during the 3rd quarter valued at about $25,000. DiNuzzo Private Wealth Inc. bought a new stake in Intuit in the 4th quarter valued at $25,000. Cape Investment Advisory Inc. acquired a new position in Intuit in the 3rd quarter worth $26,000. West Branch Capital LLC increased its holdings in Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. 83.66% of the stock is currently owned by institutional investors.

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.