Intuit (NASDAQ:INTU) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Intuit (NASDAQ:INTU) from a hold rating to a buy rating in a research note released on Thursday morning.

INTU has been the subject of several other reports. Morgan Stanley upped their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Bank of America increased their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Performance

NASDAQ:INTU opened at $672.25 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market capitalization of $188.18 billion, a PE ratio of 65.27, a P/E/G ratio of 3.31 and a beta of 1.24. The stock has a 50-day simple moving average of $639.04 and a two-hundred day simple moving average of $631.28.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Analysts forecast that Intuit will post 14.07 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is presently 40.39%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,732 shares of company stock worth $81,378,070 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Intuit in the third quarter worth $27,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit during the third quarter worth $32,000. 83.66% of the stock is currently 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.