Intuit (NASDAQ:INTU) Now Covered by Bank of America

Research analysts at Bank of America began coverage on shares of Intuit (NASDAQ:INTU) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the software maker’s stock.

A number of other research analysts have also recently issued reports on INTU. Smith Barney Citigroup increased their target price on shares of Intuit from $378.00 to $383.00 in a report on Tuesday, December 22nd. Zacks Investment Research raised shares of Intuit from a “strong sell” rating to a “hold” rating and set a $418.00 target price for the company in a report on Monday, March 1st. Stifel Nicolaus increased their target price on shares of Intuit from $400.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, March 2nd. Evercore ISI raised shares of Intuit from an “in-line” rating to an “outperform” rating and set a $500.00 target price for the company in a report on Monday, March 1st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $460.00 target price on shares of Intuit in a report on Monday, March 22nd. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $426.05.

Shares of NASDAQ:INTU opened at $401.05 on Thursday. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.39. The company has a market cap of $109.82 billion, a P/E ratio of 53.83, a PEG ratio of 4.29 and a beta of 0.99. Intuit has a 52 week low of $240.38 and a 52 week high of $423.74. The company has a 50-day moving average price of $391.35 and a 200 day moving average price of $365.48.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, February 23rd. The software maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.55. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. Intuit had a net margin of 25.10% and a return on equity of 40.29%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Analysts expect that Intuit will post 5.87 EPS for the current year.

In related news, CFO Michelle M. Clatterbuck sold 2,253 shares of the firm’s stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $403.51, for a total transaction of $909,108.03. Following the sale, the chief financial officer now owns 4,293 shares in the company, valued at $1,732,268.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Alexander Chriss sold 364 shares of the firm’s stock in a transaction that occurred on Thursday, February 25th. The stock was sold at an average price of $407.38, for a total transaction of $148,286.32. Following the sale, the executive vice president now owns 221 shares in the company, valued at approximately $90,030.98. The disclosure for this sale can be found here. 3.38% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in INTU. MUFG Americas Holdings Corp boosted its holdings in shares of Intuit by 1,600.0% in the 4th quarter. MUFG Americas Holdings Corp now owns 68 shares of the software maker’s stock valued at $26,000 after purchasing an additional 64 shares during the last quarter. Clearview Wealth Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at $29,000. TRU Independence Asset Management 2 LLC acquired a new position in shares of Intuit in the 4th quarter valued at $29,000. Encompass Wealth Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at $29,000. Finally, Concord Wealth Partners acquired a new position in shares of Intuit in the 4th quarter valued at $37,000. Institutional investors own 84.79% of the company’s stock.

Intuit Company Profile

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Analyst Recommendations for Intuit (NASDAQ:INTU)

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