Intuit (NASDAQ:INTU) Given New $310.00 Price Target at Guggenheim

Intuit (NASDAQ:INTU) had its price objective hoisted by Guggenheim from $260.00 to $310.00 in a report issued on Thursday, April 11th, The Fly reports.

Other equities research analysts have also issued reports about the stock. Exane BNP Paribas assumed coverage on shares of Intuit in a research note on Friday, March 29th. They set an underperform rating and a $200.00 target price on the stock. Royal Bank of Canada increased their price objective on shares of Intuit from $274.00 to $290.00 and gave the company an outperform rating in a report on Tuesday, April 2nd. Bank of America reiterated a buy rating and issued a $264.00 price objective (up previously from $252.00) on shares of Intuit in a report on Wednesday, March 6th. KeyCorp increased their price objective on shares of Intuit from $255.00 to $285.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Finally, BidaskClub downgraded shares of Intuit from a strong-buy rating to a buy rating in a report on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $243.58.

Shares of NASDAQ:INTU opened at $248.86 on Thursday. Intuit has a 1 year low of $182.61 and a 1 year high of $272.14. The company has a market cap of $64.47 billion, a price-to-earnings ratio of 54.94, a price-to-earnings-growth ratio of 2.92 and a beta of 1.15. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 21st. The software maker reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.44. Intuit had a net margin of 22.89% and a return on equity of 53.70%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Analysts anticipate that Intuit will post 5.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 41.50%.

In other news, SVP Kerry J. Mclean sold 12,176 shares of Intuit stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $250.74, for a total value of $3,053,010.24. Following the sale, the senior vice president now owns 14,710 shares of the company’s stock, valued at $3,688,385.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark J. Flournoy sold 5,939 shares of Intuit stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the completion of the sale, the vice president now directly owns 3,626 shares in the company, valued at approximately $910,778.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,609 shares of company stock valued at $22,757,853. 4.60% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of INTU. Financial Advantage Inc. acquired a new stake in shares of Intuit during the first quarter worth approximately $26,000. CX Institutional increased its holdings in Intuit by 85.5% in the first quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after purchasing an additional 47 shares in the last quarter. Athena Capital Advisors LLC bought a new stake in Intuit in the fourth quarter worth approximately $28,000. Financial Gravity Wealth Inc. bought a new stake in Intuit in the first quarter worth approximately $28,000. Finally, We Are One Seven LLC bought a new stake in Intuit in the fourth quarter worth approximately $33,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

About Intuit

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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