Intuit (NASDAQ:INTU) Price Target Raised to $290.00 at Stifel Nicolaus

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Intuit (NASDAQ:INTU) had its price objective upped by Stifel Nicolaus from $258.00 to $290.00 in a report published on Wednesday morning, The Fly reports. They currently have a buy rating on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of W&T Offshore from a hold rating to a sell rating in a report on Friday, April 26th. Exane BNP Paribas started coverage on shares of Workday in a report on Friday, March 29th. They issued an underperform rating for the company. KeyCorp boosted their price objective on shares of Intuit from $280.00 to $285.00 and gave the stock an overweight rating in a report on Friday, May 24th. Jefferies Financial Group restated a buy rating and issued a C$15.00 price objective on shares of Aphria in a report on Friday, May 24th. Finally, Credit Suisse Group boosted their price objective on shares of Intuit from $260.00 to $265.00 and gave the stock an outperform rating in a report on Friday, May 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $254.15.

INTU stock traded up $3.41 during midday trading on Wednesday, reaching $278.22. The company had a trading volume of 1,506,299 shares, compared to its average volume of 1,476,150. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.10. Intuit has a 1 year low of $182.61 and a 1 year high of $278.80. The company has a market cap of $71.28 billion, a P/E ratio of 61.42, a P/E/G ratio of 3.06 and a beta of 1.09. The company’s 50-day moving average is $258.79.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, topping the Zacks’ consensus estimate of $5.12 by $0.43. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the company earned $4.82 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts anticipate that Intuit will post 5.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio is currently 41.50%.

In related news, Chairman Scott D. Cook sold 133,334 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Scott D. Cook sold 103,817 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $258.59, for a total transaction of $26,846,038.03. The disclosure for this sale can be found here. Insiders have sold a total of 277,296 shares of company stock valued at $72,342,898 over the last quarter. 4.60% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in Intuit by 10.0% in the 1st quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock worth $2,671,557,000 after purchasing an additional 930,221 shares in the last quarter. Fundsmith LLP raised its holdings in Intuit by 1.3% in the 1st quarter. Fundsmith LLP now owns 4,481,318 shares of the software maker’s stock worth $1,171,461,000 after purchasing an additional 55,544 shares in the last quarter. Geode Capital Management LLC raised its holdings in Intuit by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,709,006 shares of the software maker’s stock worth $728,975,000 after purchasing an additional 118,956 shares in the last quarter. Northern Trust Corp raised its holdings in Intuit by 1.6% in the 1st quarter. Northern Trust Corp now owns 3,271,541 shares of the software maker’s stock worth $855,213,000 after purchasing an additional 52,834 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in Intuit by 1.5% in the 1st quarter. OppenheimerFunds Inc. now owns 2,835,267 shares of the software maker’s stock worth $741,168,000 after purchasing an additional 40,936 shares in the last quarter. Institutional investors own 87.91% of the company’s stock.

Intuit Company Profile

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.

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