Intuit (NASDAQ:INTU) Price Target Raised to $850.00 at KeyCorp

Intuit (NASDAQ:INTU) had its price objective boosted by KeyCorp from $770.00 to $850.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other brokerages have also weighed in on INTU. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. UBS Group boosted their price objective on shares of Intuit from $655.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Morgan Stanley boosted their price objective on shares of Intuit from $720.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI boosted their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Oppenheimer cut their price objective on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Stock Performance

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

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business earned $9.88 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. As a group, analysts expect that Intuit will post 14.09 earnings per share 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 stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated 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 sale, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last 90 days. Insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Hedge funds have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in shares of Intuit during the 4th quarter valued at about $25,000. Copia Wealth Management purchased a new stake in shares of Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC raised its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Intuit in the 4th quarter worth about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter worth about $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.