Intuit (NASDAQ:INTU) Receives New Coverage from Analysts at Daiwa Capital Markets

Daiwa Capital Markets initiated coverage on shares of Intuit (NASDAQ:INTU – Get Rating) in a research note issued on Wednesday, The Fly reports. The firm set an “outperform” rating and a $444.00 price target on the software maker’s stock. Daiwa Capital Markets’ target price would suggest a potential upside of 6.18% from the company’s previous close.

A number of other analysts also recently commented on INTU. Oppenheimer cut their price objective on shares of Intuit from $516.00 to $476.00 and set an “outperform” rating for the company in a report on Wednesday, November 30th. Wells Fargo & Company reduced their price objective on Intuit from $525.00 to $475.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 30th. Credit Suisse Group began coverage on Intuit in a report on Monday, November 21st. They issued an “outperform” rating and a $500.00 target price for the company. Bank of America reduced their price target on Intuit from $500.00 to $475.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Intuit from $560.00 to $525.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $483.53.

Intuit Stock Performance

NASDAQ INTU opened at $418.15 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $408.03 and its 200-day simple moving average is $404.37. The company has a market cap of $117.31 billion, a PE ratio of 61.31, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. Intuit has a 1-year low of $339.36 and a 1-year high of $507.71.

Intuit (NASDAQ:INTU – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The software maker reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.76. Intuit had a return on equity of 14.89% and a net margin of 14.22%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit will post 9.04 EPS for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $413.16, for a total transaction of $206,580.00. Following the transaction, the chief accounting officer now owns 1,781 shares in the company, valued at approximately $735,837.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CFO Michelle M. Clatterbuck sold 545 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at approximately $568,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 500 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $413.16, for a total transaction of $206,580.00. Following the transaction, the chief accounting officer now directly owns 1,781 shares in the company, valued at $735,837.96. The disclosure for this sale can be found here. Insiders sold a total of 7,925 shares of company stock worth $3,258,123 over the last 90 days. Company insiders own 3.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. increased its stake in Intuit by 41.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 2,860 shares of the software maker’s stock valued at $1,108,000 after purchasing an additional 844 shares in the last quarter. Lido Advisors LLC boosted its position in shares of Intuit by 16.9% in the 3rd quarter. Lido Advisors LLC now owns 1,527 shares of the software maker’s stock worth $591,000 after buying an additional 221 shares in the last quarter. M Holdings Securities Inc. grew its stake in Intuit by 26.4% in the 3rd quarter. M Holdings Securities Inc. now owns 733 shares of the software maker’s stock valued at $284,000 after acquiring an additional 153 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Intuit by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 269,085 shares of the software maker’s stock valued at $104,222,000 after acquiring an additional 70,425 shares in the last quarter. Finally, PDT Partners LLC acquired a new position in Intuit during the second quarter worth about $2,049,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.