Intuit (NASDAQ:INTU) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of Intuit (NASDAQ:INTU) from a buy rating to a strong-buy rating in a report issued on Tuesday, BidAskClub reports.

INTU has been the topic of several other research reports. Barclays increased their price target on shares of Intuit from $225.00 to $237.00 and gave the stock an equal weight rating in a research note on Friday, May 24th. Deutsche Bank increased their price target on shares of Prudential Financial from $97.00 to $104.00 and gave the stock a hold rating in a research note on Friday, April 12th. Exane BNP Paribas started coverage on shares of Workday in a research note on Friday, March 29th. They set an underperform rating on the stock. KeyCorp increased their price target on shares of Intuit from $280.00 to $285.00 and gave the stock an overweight rating in a research note on Friday, May 24th. Finally, Jefferies Financial Group restated a buy rating and set a C$15.00 price target on shares of Aphria in a research note on Friday, May 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $254.15.

Shares of INTU opened at $281.65 on Tuesday. The business’s fifty day simple moving average is $259.55. Intuit has a 12 month low of $182.61 and a 12 month high of $281.84. The firm has a market cap of $72.13 billion, a price-to-earnings ratio of 62.17, a price-to-earnings-growth ratio of 3.15 and a beta of 1.09. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10.



Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.12 by $0.43. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the business posted $4.82 EPS. Intuit’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts anticipate that Intuit will post 5.49 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is presently 41.50%.

In other Intuit news, Chairman Scott D. Cook sold 103,817 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $258.59, for a total value of $26,846,038.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the completion of the sale, the chief financial officer now owns 10,628 shares in the company, valued at $2,723,637.56. The disclosure for this sale can be found here. Insiders sold a total of 277,296 shares of company stock worth $72,342,898 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Advantage Inc. acquired a new stake in Intuit in the 1st quarter worth $26,000. CX Institutional grew its position in Intuit by 85.5% in the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after purchasing an additional 47 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new stake in Intuit in the 1st quarter worth $28,000. Private Ocean LLC acquired a new stake in Intuit in the 1st quarter worth $28,000. Finally, Thor Advisors LLC acquired a new stake in Intuit in the 1st quarter worth $33,000. Institutional investors own 87.91% of the company’s stock.

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.

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Analyst Recommendations for Intuit (NASDAQ:INTU)

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