Intuit (NASDAQ:INTU) Rating Reiterated by Erste Group Bank

Erste Group Bank restated their hold rating on shares of Intuit (NASDAQ:INTU) in a research report report published on Friday morning, Benzinga reports.

INTU has been the subject of a number of other reports. Jefferies Financial Group reissued a buy rating and set a $770.00 price target on shares of Intuit in a research report on Thursday, June 13th. Evercore ISI raised their price target on Intuit from $670.00 to $725.00 and gave the company an outperform rating in a report on Friday, February 23rd. Mizuho lifted their price target on Intuit from $670.00 to $725.00 and gave the stock a buy rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on Intuit from $560.00 to $585.00 and gave the company a neutral rating in a research report on Friday, February 23rd. Finally, Morgan Stanley lifted their target price on Intuit from $680.00 to $740.00 and gave the stock an overweight rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $679.41.

Intuit Price Performance

INTU stock opened at $602.52 on Friday. The firm has a market cap of $168.43 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 3.41 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit has a 12-month low of $442.74 and a 12-month high of $676.62. The company’s fifty day simple moving average is $616.68 and its 200 day simple moving average is $625.12.

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

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.60%. Intuit’s payout ratio is 33.21%.

Insider Activity

In related news, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total value of $42,581,250.00. Following the sale, the insider now directly owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The disclosure for this sale can be found here. Insiders have sold a total of 194,217 shares of company stock valued at $113,301,418 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Several large investors have recently modified their holdings of the stock. Desjardins Global Asset Management Inc. increased its holdings in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after buying an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after acquiring an additional 16 shares in the last quarter. GAM Holding AG boosted its holdings in Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after acquiring an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its holdings in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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.