Intuit (NASDAQ:INTU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $243.00 target price on the software maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.52% from the stock’s previous close.
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.”
INTU has been the topic of several other research reports. Oppenheimer boosted their price target on Intuit from $181.00 to $206.00 and gave the company an “outperform” rating in a research note on Wednesday, May 23rd. Barclays restated a “hold” rating and issued a $190.00 target price on shares of Intuit in a research note on Sunday, May 20th. Citigroup upped their target price on Intuit from $221.00 to $224.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. JPMorgan Chase & Co. upped their target price on Intuit from $176.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 23rd. Finally, Stifel Nicolaus upped their target price on Intuit from $180.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, May 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Intuit presently has a consensus rating of “Hold” and an average target price of $212.39.
Intuit stock opened at $217.90 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a market cap of $55.58 billion, a price-to-earnings ratio of 48.11, a PEG ratio of 2.54 and a beta of 1.18. Intuit has a fifty-two week low of $136.75 and a fifty-two week high of $219.46.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The business had revenue of $988.00 million for the quarter, compared to the consensus estimate of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 EPS. research analysts forecast that Intuit will post 5.25 earnings per share for the current year.
In other news, Chairman Scott D. Cook sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $208.12, for a total value of $20,812,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 31,396 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $211.65, for a total value of $6,644,963.40. Following the transaction, the executive vice president now owns 27,186 shares in the company, valued at approximately $5,753,916.90. The disclosure for this sale can be found here. Insiders sold 339,891 shares of company stock worth $71,340,211 in the last 90 days. Company insiders own 5.59% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. HM Payson & Co. boosted its position in Intuit by 428.0% during the second quarter. HM Payson & Co. now owns 6,373 shares of the software maker’s stock worth $1,302,000 after purchasing an additional 5,166 shares in the last quarter. Schroder Investment Management Group boosted its position in Intuit by 31.3% during the second quarter. Schroder Investment Management Group now owns 364,901 shares of the software maker’s stock worth $74,447,000 after purchasing an additional 86,895 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Intuit by 8.1% during the second quarter. Advisors Asset Management Inc. now owns 12,696 shares of the software maker’s stock worth $2,594,000 after purchasing an additional 953 shares in the last quarter. HWG Holdings LP purchased a new position in Intuit during the second quarter worth approximately $589,000. Finally, Global X Management Co LLC boosted its position in Intuit by 97.3% during the second quarter. Global X Management Co LLC now owns 90,492 shares of the software maker’s stock worth $18,488,000 after purchasing an additional 44,637 shares in the last quarter. Institutional investors own 87.73% of the company’s stock.
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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