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

Credit Suisse Group reissued their outperform rating on shares of Intuit (NASDAQ:INTU) in a report issued on Tuesday, The Fly reports. Credit Suisse Group currently has a $185.00 price target on the software maker’s stock, up from their prior price target of $170.00.

Several other brokerages have also weighed in on INTU. JPMorgan Chase & Co. increased their price objective on Intuit to $163.00 and gave the company a neutral rating in a report on Thursday, January 4th. Citigroup increased their price objective on Intuit to $170.00 in a report on Tuesday, November 21st. Jefferies Group reissued a buy rating and set a $185.00 price objective on shares of Intuit in a report on Tuesday, November 21st. Stifel Nicolaus reissued a hold rating and set a $148.00 price objective on shares of Intuit in a report on Tuesday, November 21st. Finally, Wells Fargo & Co reissued an outperform rating and set a $180.00 price objective (up from $163.00) on shares of Intuit in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $157.53.

Shares of Intuit (NASDAQ INTU) traded down $1.34 on Tuesday, hitting $163.51. The company had a trading volume of 1,095,379 shares, compared to its average volume of 1,380,000. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $41,800.00, a P/E ratio of 43.26, a price-to-earnings-growth ratio of 2.95 and a beta of 1.18. Intuit has a one year low of $111.90 and a one year high of $165.13.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.30. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The company had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. During the same period last year, the business posted $0.06 earnings per share. Intuit’s revenue was up 13.9% on a year-over-year basis. sell-side analysts anticipate that Intuit will post 3.95 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Tuesday, January 9th. Intuit’s payout ratio is currently 41.27%.

In other news, EVP Henry Tayloe Stansbury sold 2,158 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $158.94, for a total value of $342,992.52. Following the completion of the transaction, the executive vice president now directly owns 3,050 shares of the company’s stock, valued at $484,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Scott D. Cook sold 184,733 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $158.98, for a total value of $29,368,852.34. The disclosure for this sale can be found here. Insiders sold 965,938 shares of company stock valued at $149,469,127 over the last ninety days. Corporate insiders own 5.59% of the company’s stock.

Several institutional investors have recently bought and sold shares of INTU. Janus Henderson Group PLC boosted its holdings in shares of Intuit by 612.6% in the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock worth $345,589,000 after acquiring an additional 2,236,974 shares during the period. Koch Industries Inc. raised its position in shares of Intuit by 38,665.6% in the second quarter. Koch Industries Inc. now owns 1,438,591 shares of the software maker’s stock worth $1,428,000 after buying an additional 1,434,880 shares in the last quarter. Fundsmith LLP purchased a new stake in shares of Intuit in the second quarter worth $144,464,000. Jensen Investment Management Inc. purchased a new stake in shares of Intuit in the third quarter worth $112,811,000. Finally, BT Investment Management Ltd purchased a new stake in shares of Intuit in the second quarter worth $92,871,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

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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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