Intuit (NASDAQ:INTU) Given “Hold” Rating at Erste Group Bank

Erste Group Bank restated their hold rating on shares of Intuit (NASDAQ:INTUFree Report) in a research note issued to investors on Friday morning, Benzinga reports.

Several other research firms also recently commented on INTU. UBS Group lifted their price objective on Intuit from $625.00 to $670.00 and gave the stock a neutral rating in a report on Monday, May 20th. Bank of America lowered their target price on Intuit from $760.00 to $730.00 and set a buy rating on the stock in a report on Friday, May 24th. Piper Sandler upped their price target on shares of Intuit from $750.00 to $760.00 and gave the company an overweight rating in a research report on Friday, May 24th. StockNews.com raised Intuit from a hold rating to a buy rating in a report on Monday, May 27th. Finally, Susquehanna decreased their price target on Intuit from $775.00 to $757.00 and set a positive rating on the stock in a report on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of Moderate Buy and a consensus target price of $679.41.

Check Out Our Latest Research Report on INTU

Intuit Trading Up 1.1 %

Shares of INTU opened at $602.52 on Friday. The firm has a market capitalization of $168.43 billion, a PE ratio of 55.58, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit has a 12-month low of $442.74 and a 12-month high of $676.62. The stock’s fifty day simple moving average is $616.68 and its 200-day simple moving average is $625.12.

Intuit (NASDAQ:INTUGet Free Report) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the prior year, the business earned $7.80 EPS. Intuit’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Intuit will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be given a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.60%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 194,217 shares of company stock worth $113,301,418 in the last quarter. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuit

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares during the last quarter. FMR LLC raised its stake in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares during the last quarter. Morgan Stanley grew its position in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after purchasing an additional 137,198 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Intuit by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after purchasing an additional 80,517 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Company Profile

(Get Free Report)

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.

Further Reading

Analyst Recommendations for Intuit (NASDAQ:INTU)

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