Intuit (NASDAQ:INTU) Price Target Raised to $785.00 at Evercore ISI

Intuit (NASDAQ:INTU) had its price target increased by Evercore ISI from $685.00 to $785.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

INTU has been the topic of several other research reports. JPMorgan Chase & Co. upped their price target on Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a report on Friday. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. The Goldman Sachs Group upped their price target on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler reaffirmed an “overweight” rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a research report on Friday. Finally, Jefferies Financial Group upped their price objective on Intuit from $735.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $785.33.

Intuit Price Performance

Shares of NASDAQ INTU opened at $720.13 on Friday. The stock’s 50-day moving average is $616.76 and its two-hundred day moving average is $621.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit has a 1-year low of $532.65 and a 1-year high of $734.18. The company has a market cap of $201.32 billion, a price-to-earnings ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 EPS. Intuit’s revenue was up 15.1% on a year-over-year basis. Analysts forecast that Intuit will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last three months. 2.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. Copia Wealth Management acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC lifted its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 4th quarter worth approximately $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.