Intuit (NASDAQ:INTU) Price Target Raised to $800.00

Intuit (NASDAQ:INTU) had its price objective lifted by Jefferies Financial Group from $790.00 to $800.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other research firms also recently weighed in on INTU. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Down 5.7 %

Shares of INTU stock opened at $640.12 on Friday. The stock’s fifty day moving average price is $634.81 and its 200 day moving average price is $631.19. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market cap of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, research analysts expect that Intuit will post 14.05 earnings per share for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by company insiders.

Institutional Trading of Intuit

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTU. International Assets Investment Management LLC boosted its stake in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP lifted its holdings in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Intuit in the 2nd quarter valued at approximately $184,982,000. Ameriprise Financial Inc. boosted its position in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, State Street Corp increased its position in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Hedge funds and other institutional investors own 83.66% 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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.