Citigroup Reiterates Neutral Rating for Intuit (NASDAQ:INTU)

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Citigroup reissued their neutral rating on shares of Intuit (NASDAQ:INTU) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has a $312.00 price target on the software maker’s stock.

INTU has been the subject of a number of other research reports. Morgan Stanley increased their target price on Intuit from $260.00 to $290.00 and gave the company an equal weight rating in a report on Monday, January 13th. Wells Fargo & Co initiated coverage on Intuit in a report on Monday, January 27th. They set an equal weight rating and a $300.00 price objective for the company. BidaskClub upgraded Intuit from a hold rating to a buy rating in a report on Tuesday, February 11th. Credit Suisse Group reiterated an outperform rating and set a $300.00 price objective on shares of Intuit in a report on Thursday, January 2nd. Finally, Zacks Investment Research lowered Intuit from a buy rating to a hold rating and set a $280.00 price objective for the company. in a report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Intuit has an average rating of Hold and an average price target of $291.11.

INTU opened at $297.57 on Thursday. The stock has a fifty day moving average of $285.40 and a 200-day moving average of $271.27. The firm has a market capitalization of $77.46 billion, a P/E ratio of 49.68, a PEG ratio of 3.01 and a beta of 1.03. Intuit has a 12-month low of $236.03 and a 12-month high of $306.89. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.18.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.16. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. Intuit had a return on equity of 42.04% and a net margin of 22.79%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, analysts expect that Intuit will post 6.3 earnings per share for the current fiscal year.

In other Intuit news, Chairman Scott D. Cook sold 73,357 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $256.08, for a total transaction of $18,785,260.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Scott D. Cook sold 112,022 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $266.16, for a total transaction of $29,815,775.52. The disclosure for this sale can be found here. Insiders have sold 185,426 shares of company stock worth $48,613,307 over the last three months. Company insiders own 4.09% of the company’s stock.

A number of institutional investors have recently bought and sold shares of INTU. Atlas Private Wealth Management acquired a new stake in shares of Intuit in the fourth quarter valued at about $26,000. Manchester Financial Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at about $30,000. Virtus ETF Advisers LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $31,000. Ameritas Investment Company LLC grew its position in shares of Intuit by 958.3% in the fourth quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Intuit in the fourth quarter valued at about $35,000. 86.09% 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 small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Further Reading: FinTech

Analyst Recommendations for Intuit (NASDAQ:INTU)

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