Intuit (NASDAQ:INTU) Price Target Raised to $815.00

Intuit (NASDAQ:INTU) had its price target boosted by Barclays from $775.00 to $815.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

INTU has been the topic of several other research reports. Stifel Nicolaus lifted their price objective on shares of Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho lifted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Performance

Shares of INTU opened at $720.13 on Friday. The firm’s 50 day moving average is $616.76 and its 200-day moving average is $621.21. The stock has a market capitalization of $201.32 billion, a P/E ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24. 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 12-month low of $532.65 and a 12-month high of $734.18.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.88 EPS. Equities research analysts anticipate that Intuit will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after acquiring an additional 3,648 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Intuit by 10.2% during the 4th quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker’s stock worth $13,906,000 after buying an additional 2,055 shares during the period. Capitolis Liquid Global Markets LLC bought a new stake in shares of Intuit during the 4th quarter worth $109,988,000. Factory Mutual Insurance Co. bought a new stake in shares of Intuit during the 4th quarter worth $33,248,000. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Intuit by 7.0% during the 4th quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock worth $4,821,000 after buying an additional 501 shares during the period. 83.66% of the stock is owned by institutional investors.

About Intuit

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.