Intuit (NASDAQ:INTU) Lifted to Strong-Buy at BidaskClub

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

Several other brokerages have also recently weighed in on INTU. BNP Paribas assumed coverage on shares of Workday in a research note on Friday, March 29th. They issued an underperform rating and a $125.00 price objective on the stock. KeyCorp boosted their price objective 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. Oppenheimer set a $68.00 price objective on shares of ITT and gave the stock a buy rating in a research note on Wednesday, March 27th. Stifel Nicolaus reissued a buy rating and issued a $220.00 price objective on shares of Alibaba Group in a research note on Friday, May 24th. Finally, ValuEngine cut shares of W&T Offshore from a hold rating to a sell rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $254.15.

Shares of INTU opened at $278.22 on Tuesday. Intuit has a one year low of $182.61 and a one year high of $278.80. The firm has a market capitalization of $71.24 billion, a P/E ratio of 61.42, a P/E/G ratio of 3.11 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. The company’s 50 day moving average price is $258.79.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, beating the consensus estimate of $5.12 by $0.43. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.82 earnings per share. Equities analysts expect that Intuit will post 5.49 earnings per share 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 issued a $0.47 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.88 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is 41.50%.

In related news, CFO Michelle M. Clatterbuck sold 10,628 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the transaction, the chief financial officer now owns 10,628 shares in the company, valued at $2,723,637.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Scott D. Cook sold 133,334 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 277,296 shares of company stock worth $72,342,898. 4.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. CX Institutional raised its holdings in shares of Intuit by 85.5% in the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after acquiring an additional 47 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Intuit by 0.6% in the 1st quarter. Wealthfront Advisers LLC now owns 8,675 shares of the software maker’s stock worth $2,268,000 after acquiring an additional 51 shares during the last quarter. First Mercantile Trust Co. raised its holdings in shares of Intuit by 7.3% in the 1st quarter. First Mercantile Trust Co. now owns 779 shares of the software maker’s stock worth $204,000 after acquiring an additional 53 shares during the last quarter. First Personal Financial Services raised its holdings in shares of Intuit by 2.4% in the 1st quarter. First Personal Financial Services now owns 2,302 shares of the software maker’s stock worth $602,000 after acquiring an additional 54 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its holdings in shares of Intuit by 3.0% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,085 shares of the software maker’s stock worth $545,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other 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.

Featured Story: What are the advantages to having securities held in street name?

Analyst Recommendations for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.