Intuit (INTU) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Intuit (NASDAQ: INTU) recently:

  • 9/7/2018 – Intuit had its price target raised by analysts at Barclays PLC from $204.00 to $219.00. They now have an “equal weight” rating on the stock.
  • 8/31/2018 – Intuit was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 8/29/2018 – Intuit was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Intuit’s fiscal Q4 results were driven by impressive growth across its Small Business and Self-Employed, and Consumer Tax segments. Intuit is benefiting from frequent product refreshes, which help it to gain customers. It witnessed solid growth in QuickBooks Online subscriber base. TurboTax Live offering also is likely to be a tailwind to the Consumer tax business. Moreover, the company’s strategy of shifting its business to cloud-based subscription model will help generate more stable revenues over the long run. Intuit’s shares have outperformed the industry on a year-to-date basis. However, high costs and expenses remain a major concern. Competition from companies like Microsoft also increases pricing pressure. Again, due to the business being seasonal, Intuit is exposed to significant operational risks.”
  • 8/28/2018 – Intuit was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $243.00 price target on the stock. According to Zacks, “Intuit’s fiscal Q4 results were driven by impressive growth across its Small Business and Self-Employed, and Consumer Tax segments. Intuit is benefiting from frequent product refreshes, which help it to gain customers. It witnessed solid growth in QuickBooks Online subscriber base. TurboTax Live offering also is likely to be a tailwind to the Consumer tax business. Moreover, the company’s strategy of shifting its business to cloud-based subscription model will help generate more stable revenues over the long run. Intuit’s shares have outperformed the industry on a year-to-date basis. However, high costs and expenses remain a major concern. Competition from companies like Microsoft also increases pricing pressure. Again, due to the business being seasonal, Intuit is exposed to significant operational risks.”
  • 8/27/2018 – Intuit had its price target raised by analysts at Wells Fargo & Co from $215.00 to $235.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Credit Suisse Group AG from $215.00 to $230.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Oppenheimer Holdings Inc. from $206.00 to $224.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Citigroup Inc from $221.00 to $224.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Intuit had its price target raised by analysts at Stifel Nicolaus from $240.00 to $250.00. They now have a “buy” rating on the stock.
  • 8/17/2018 – Intuit had its price target raised by analysts at Royal Bank of Canada to $240.00. They now have a “market perform” rating on the stock.
  • 8/15/2018 – Intuit had its price target raised by analysts at Barclays PLC from $194.00 to $204.00. They now have an “equal weight” rating on the stock.
  • 8/7/2018 – Intuit is now covered by analysts at Guggenheim. They set a “buy” rating and a $250.00 price target on the stock.
  • 7/27/2018 – Intuit was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/24/2018 – Intuit was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Intuit's growing SMB exposure keeps us optimistic and we believe that its strategic acquisitions will fortify this segment. Due to the continuously emerging new technologies and current market trends, cloud-based business and financial software solutions have been gaining momentum. As Intuit is already a market leader in this segment, the increased adoption helped it gain new customers, in turn, boosting the overall performance. The performance of the company’s DIY category and higher average revenue per return has also been positives. Moreover, the company’s strategy of shifting its business to cloud-based subscription model will help generate more stable revenues over the long run.  Intuit’s shares have outperformed the industry on a year-to-date basis. However, Intuit’s high costs and expenses remain a major concern. Competition from companies like Microsoft also increases pricing pressure.”
  • 7/24/2018 – Intuit had its price target raised by analysts at Argus from $225.00 to $250.00.
  • 7/19/2018 – Intuit was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of INTU stock opened at $227.78 on Friday. Intuit Inc. has a 52-week low of $140.21 and a 52-week high of $228.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $58.38 billion, a P/E ratio of 50.28, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The firm had revenue of $988.00 million during the quarter, compared to analyst estimates of $952.67 million. During the same period last year, the company earned $0.20 EPS. Intuit’s quarterly revenue was up 17.3% compared to the same quarter last year. research analysts expect that Intuit Inc. will post 5.23 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Wednesday, October 10th will be paid a dividend of $0.47 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.39. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Tuesday, October 9th. Intuit’s dividend payout ratio (DPR) is currently 34.44%.

In related news, insider Scott D. Cook sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $209.41, for a total transaction of $20,941,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis D. Powell sold 4,554 shares of Intuit stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $215.05, for a total value of $979,337.70. Following the sale, the director now directly owns 4,083 shares of the company’s stock, valued at $878,049.15. The disclosure for this sale can be found here. Insiders have sold a total of 368,201 shares of company stock valued at $78,754,509 over the last three months. 5.59% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Fort L.P. bought a new stake in Intuit during the 2nd quarter valued at $120,000. Qube Research & Technologies Ltd raised its position in Intuit by 160.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after purchasing an additional 373 shares in the last quarter. Sun Life Financial INC raised its position in Intuit by 243.8% during the 2nd quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock valued at $135,000 after purchasing an additional 468 shares in the last quarter. Resources Investment Advisors Inc. raised its position in Intuit by 158.9% during the 1st quarter. Resources Investment Advisors Inc. now owns 906 shares of the software maker’s stock valued at $174,000 after purchasing an additional 556 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in Intuit during the 2nd quarter valued at $176,000. 87.02% of the stock is owned by institutional investors and hedge funds.

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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