Intuit Inc. (NASDAQ:INTU) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Intuit Inc. (NASDAQ:INTU) have received a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $703.27.

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada initiated coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock worth $114,442,445 over the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several hedge funds and other institutional investors have recently bought and sold shares of INTU. Norges Bank bought a new stake in Intuit in the fourth quarter valued at $2,101,848,000. Wellington Management Group LLP increased its stake in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC bought a new stake in Intuit in the fourth quarter valued at $467,852,000. Parnassus Investments LLC increased its stake in Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, Capital World Investors increased its stake in Intuit by 54.7% in the fourth quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after purchasing an additional 416,099 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 6.8 %

Shares of INTU opened at $619.85 on Friday. Intuit has a 12 month low of $473.56 and a 12 month high of $676.62. The firm’s 50 day moving average is $639.27 and its 200-day moving average is $634.44. The stock has a market capitalization of $173.28 billion, a PE ratio of 57.18, a P/E/G ratio of 3.14 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.

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

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.