Moffett Nathanson Initiates Coverage on Intuit (NASDAQ:INTU)

Moffett Nathanson assumed coverage on shares of Intuit (NASDAQ:INTUGet Rating) in a research note released on Thursday, The Fly reports. The firm issued an outperform rating and a $500.00 price objective on the software maker’s stock.

INTU has been the subject of a number of other reports. Piper Sandler raised their price objective on Intuit from $500.00 to $553.00 and gave the stock an overweight rating in a research report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft raised their price target on Intuit from $525.00 to $560.00 in a research note on Wednesday, August 24th. BMO Capital Markets raised their price target on Intuit from $475.00 to $533.00 and gave the stock an outperform rating in a research note on Wednesday, August 17th. Wells Fargo & Company cut their price target on Intuit from $635.00 to $550.00 and set an overweight rating for the company in a research note on Wednesday, May 25th. Finally, Stifel Nicolaus raised their price target on Intuit from $465.00 to $525.00 and gave the stock a buy rating in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of Moderate Buy and an average target price of $566.89.

Intuit Trading Down 2.9 %

Shares of NASDAQ INTU opened at $396.71 on Thursday. Intuit has a one year low of $339.36 and a one year high of $716.86. The firm has a market capitalization of $111.82 billion, a PE ratio of 54.72, a PEG ratio of 2.87 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $442.39 and a two-hundred day moving average price of $429.18.

Intuit (NASDAQ:INTUGet Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The software maker reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.12. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same quarter last year, the firm posted $1.28 earnings per share. As a group, analysts predict that Intuit will post 9.1 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be paid a $0.78 dividend. The ex-dividend date is Thursday, October 6th. This represents a $3.12 dividend on an annualized basis and a yield of 0.79%. This is a positive change from Intuit’s previous quarterly dividend of $0.68. Intuit’s payout ratio is currently 37.52%.

Insider Transactions at Intuit

In other news, CFO Michelle M. Clatterbuck sold 6,768 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the completion of the sale, the chief financial officer now owns 1,350 shares in the company, valued at $607,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sasan K. Goodarzi sold 22,250 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the completion of the sale, the chief executive officer now owns 60,208 shares in the company, valued at $27,888,947.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michelle M. Clatterbuck sold 6,768 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $450.00, for a total value of $3,045,600.00. Following the completion of the sale, the chief financial officer now owns 1,350 shares of the company’s stock, valued at approximately $607,500. The disclosure for this sale can be found here. Insiders sold a total of 39,318 shares of company stock worth $18,027,628 over the last 90 days. 3.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. San Luis Wealth Advisors LLC bought a new stake in shares of Intuit in the first quarter worth about $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Intuit in the fourth quarter worth about $28,000. Activest Wealth Management bought a new stake in shares of Intuit in the first quarter worth about $29,000. Atwood & Palmer Inc. increased its holdings in shares of Intuit by 225.0% in the second quarter. Atwood & Palmer Inc. now owns 65 shares of the software maker’s stock worth $25,000 after acquiring an additional 45 shares in the last quarter. Finally, Cornerstone Advisory LLC bought a new stake in shares of Intuit in the fourth quarter worth about $48,000. Institutional investors own 83.31% of the company’s stock.

About Intuit

(Get Rating)

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 ProConnect.

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