Intuit (INTU) Receives “Outperform” Rating from Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Intuit (NASDAQ:INTU) in a report released on Tuesday, January 9th, The Fly reports. They currently have a $185.00 price objective on the software maker’s stock, up from their previous price objective of $170.00.

INTU has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Intuit from a buy rating to a hold rating in a research report on Tuesday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Intuit to $163.00 and gave the stock a neutral rating in a research report on Thursday, January 4th. Oppenheimer restated a buy rating and set a $166.00 price objective (up previously from $159.00) on shares of Intuit in a research report on Tuesday, November 21st. Citigroup upped their price objective on shares of Intuit to $170.00 in a research report on Tuesday, November 21st. Finally, Stifel Nicolaus restated a hold rating and set a $148.00 price objective on shares of Intuit in a research report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $158.32.

Shares of Intuit (NASDAQ:INTU) opened at $163.42 on Tuesday. Intuit has a 12-month low of $111.90 and a 12-month high of $170.59. The company has a market cap of $42,348.41, a price-to-earnings ratio of 43.35, a P/E/G ratio of 2.98 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, beating the 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 net margin of 18.62% and a return on equity of 77.56%. Intuit’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. equities analysts forecast that Intuit will post 4.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.56 annualized dividend and a dividend yield of 0.95%. Intuit’s dividend payout ratio is currently 41.38%.

In other news, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $151.46, for a total transaction of $27,767,767.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brad D. Smith sold 110,496 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total transaction of $16,729,094.40. Following the transaction, the chief executive officer now owns 399,246 shares in the company, valued at $60,445,844.40. The disclosure for this sale can be found here. Insiders have sold a total of 965,938 shares of company stock worth $149,469,127 over the last ninety days. 5.59% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in INTU. Oakbrook Investments LLC raised its holdings in Intuit by 118.1% in the third quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock valued at $3,045,000 after buying an additional 11,600 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Intuit by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock valued at $53,363,000 after buying an additional 1,870 shares during the period. Schroder Investment Management Group raised its holdings in Intuit by 218.4% in the second quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock valued at $30,483,000 after buying an additional 157,101 shares during the period. Bank of Montreal Can raised its holdings in Intuit by 71.7% in the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock valued at $74,412,000 after buying an additional 196,911 shares during the period. Finally, Asset Advisors Corp raised its holdings in Intuit by 2.5% in the third quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock valued at $13,157,000 after buying an additional 2,300 shares during the period. Institutional investors and hedge funds own 86.15% of the company’s stock.

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About Intuit

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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