Intuit (NASDAQ:INTU) Given New $525.00 Price Target at Morgan Stanley

Intuit (NASDAQ:INTU – Get Rating) had its price objective lifted by Morgan Stanley from $520.00 to $525.00 in a research note issued to investors on Wednesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. StockNews.com assumed coverage on Intuit in a research note on Thursday, May 18th. They set a hold rating for the company. Barclays boosted their price target on Intuit from $465.00 to $495.00 in a research note on Monday, May 15th. Mizuho cut their price objective on Intuit from $650.00 to $550.00 in a research note on Tuesday, May 16th. Atlantic Securities initiated coverage on Intuit in a research note on Monday, April 24th. They set an overweight rating and a $530.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on Intuit from $448.00 to $462.00 and gave the company an outperform rating in a research note on Friday, February 24th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $491.35.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $415.92 on Wednesday. The business has a 50-day simple moving average of $433.62 and a two-hundred day simple moving average of $412.08. The firm has a market cap of $116.69 billion, a price-to-earnings ratio of 60.99, a price-to-earnings-growth ratio of 3.39 and a beta of 1.19. Intuit has a fifty-two week low of $352.63 and a fifty-two week high of $490.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.23.

Intuit (NASDAQ:INTU – Get Rating) last released its quarterly earnings results on Tuesday, May 23rd. The software maker reported $8.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.30 by $1.62. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.09 billion. Intuit had a return on equity of 14.89% and a net margin of 14.22%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $6.70 EPS. On average, analysts expect that Intuit will post 9 earnings per share for the current year.

Insider Activity at Intuit

In related news, CFO Michelle M. Clatterbuck sold 545 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the sale, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $568,863. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intuit news, CFO Michelle M. Clatterbuck sold 545 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $421.38, for a total transaction of $229,652.10. Following the sale, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at $568,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 4,539 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $412.57, for a total value of $1,872,655.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,328 shares of company stock valued at $3,019,323. 3.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Intuit by 1.2% during the third quarter. Vanguard Group Inc. now owns 24,634,094 shares of the software maker’s stock valued at $9,541,277,000 after buying an additional 281,362 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Intuit by 0.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,660,990 shares of the software maker’s stock valued at $6,484,790,000 after acquiring an additional 120,343 shares during the last quarter. State Street Corp grew its position in Intuit by 1.9% in the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after acquiring an additional 210,246 shares during the last quarter. Geode Capital Management LLC grew its position in Intuit by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 5,183,078 shares of the software maker’s stock valued at $2,305,151,000 after acquiring an additional 73,118 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Intuit by 6.6% in the 3rd quarter. Brown Advisory Inc. now owns 3,518,173 shares of the software maker’s stock valued at $1,362,659,000 after acquiring an additional 217,504 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.