Intuit (NASDAQ:INTU) PT Raised to $290.00 at Stifel Nicolaus

Intuit (NASDAQ:INTU) had its target price hoisted by Stifel Nicolaus from $258.00 to $290.00 in a report released on Wednesday morning, The Fly reports. The firm currently has a buy rating on the software maker’s stock.

INTU has been the topic of several other research reports. Royal Bank of Canada downgraded shares of Senior Housing Properties Trust from a sector perform rating to an underperform rating and set a $8.00 price objective on the stock. in a report on Tuesday, April 2nd. BidaskClub downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. Barclays upped their price objective on shares of Intuit from $225.00 to $237.00 and gave the company an equal weight rating in a report on Friday, May 24th. UBS Group cut their price objective on shares of VF from $97.00 to $87.00 and set a neutral rating on the stock in a report on Friday, May 24th. Finally, Morgan Stanley set a $28.00 price target on shares of BJs Wholesale Club and gave the stock a hold rating in a report on Friday, May 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Intuit has an average rating of Buy and an average target price of $254.15.

INTU opened at $281.65 on Wednesday. Intuit has a 52-week low of $182.61 and a 52-week high of $281.84. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $73.02 billion, a P/E ratio of 62.17, a P/E/G ratio of 3.19 and a beta of 1.09. The firm’s 50-day moving average is $259.55.



Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the company posted $4.82 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts expect that Intuit will post 5.49 EPS for the current fiscal year.

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

In other news, Chairman Scott D. Cook sold 133,334 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total transaction of $35,049,508.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 10,628 shares in the company, valued at approximately $2,723,637.56. The disclosure for this sale can be found here. Insiders have sold a total of 277,296 shares of company stock worth $72,342,898 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Intuit by 3.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,862 shares of the software maker’s stock worth $1,548,000 after purchasing an additional 238 shares during the period. Bessemer Group Inc. increased its stake in Intuit by 16.2% in the fourth quarter. Bessemer Group Inc. now owns 7,212 shares of the software maker’s stock valued at $1,420,000 after acquiring an additional 1,005 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Intuit by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 727,285 shares of the software maker’s stock valued at $143,169,000 after acquiring an additional 19,825 shares during the last quarter. Berman Capital Advisors LLC bought a new position in Intuit in the fourth quarter valued at approximately $34,000. Finally, Natixis Advisors L.P. increased its stake in Intuit by 26.8% in the fourth quarter. Natixis Advisors L.P. now owns 38,033 shares of the software maker’s stock valued at $7,486,000 after acquiring an additional 8,039 shares during the last quarter. 87.91% of the stock is currently owned by institutional investors and hedge funds.

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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