Wells Fargo & Company reiterated their outperform rating on shares of Intuit (NASDAQ:INTU) in a research report sent to investors on Tuesday, November 21st, The Fly reports. Wells Fargo & Company currently has a $180.00 price objective on the software maker’s stock, up from their previous price objective of $163.00.
A number of other research analysts also recently weighed in on the company. Royal Bank Of Canada raised their price target on Intuit from $141.00 to $160.00 and gave the company a sector perform rating in a research note on Thursday, November 16th. Raymond James Financial downgraded Intuit from a market perform rating to an underperform rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded Intuit from a hold rating to a buy rating and set a $152.00 price target for the company in a research note on Monday, August 28th. Oppenheimer raised their price target on Intuit from $146.00 to $159.00 and gave the company an outperform rating in a research note on Friday, October 27th. Finally, Citigroup raised their price target on Intuit to $170.00 in a research note on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Intuit has a consensus rating of Hold and a consensus target price of $152.89.
Intuit (INTU) traded down $0.63 during mid-day trading on Tuesday, reaching $155.56. The company’s stock had a trading volume of 1,606,912 shares, compared to its average volume of 1,489,395. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $39,490.24, a P/E ratio of 41.30, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18. Intuit has a 12-month low of $111.90 and a 12-month high of $158.90.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.30. The firm had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. equities analysts forecast that Intuit will post 3.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Wednesday, January 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.56 annualized dividend and a yield of 1.00%. Intuit’s dividend payout ratio (DPR) is presently 41.38%.
In other Intuit news, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction on Monday, September 11th. The stock was sold at an average price of $142.31, for a total value of $265,835.08. Following the completion of the transaction, the vice president now directly owns 1,713 shares of the company’s stock, valued at approximately $243,777.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total value of $26,618,118.27. The disclosure for this sale can be found here. Insiders sold a total of 898,807 shares of company stock valued at $132,768,878 over the last 90 days. 5.59% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in INTU. Duncker Streett & Co. Inc. raised its holdings in Intuit by 1.4% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 4,500 shares of the software maker’s stock valued at $598,000 after acquiring an additional 62 shares in the last quarter. Greenleaf Trust acquired a new position in Intuit in the 2nd quarter valued at $216,000. Cue Financial Group Inc. raised its holdings in shares of Intuit by 0.3% during the 2nd quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock worth $930,000 after buying an additional 20 shares in the last quarter. First Midwest Bank Trust Division raised its holdings in shares of Intuit by 130.9% during the 2nd quarter. First Midwest Bank Trust Division now owns 11,923 shares of the software maker’s stock worth $1,583,000 after buying an additional 6,760 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Intuit by 32.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 945,684 shares of the software maker’s stock worth $125,595,000 after buying an additional 231,108 shares in the last quarter. 86.28% of the stock is owned by hedge funds and other institutional investors.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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