UBS Group Forecasts Strong Price Appreciation for Intuit (NASDAQ:INTU) Stock

Intuit (NASDAQ:INTU) had its price target lifted by analysts at UBS Group from $655.00 to $720.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. UBS Group’s price objective suggests a potential upside of 7.42% from the stock’s current price.

Several other analysts also recently weighed in on the company. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $600.00 to $700.00 in a report on Thursday, April 17th. BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Citigroup dropped their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.16.

Intuit Stock Up 1.4%

Intuit stock opened at $670.28 on Friday. Intuit has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. 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 company has a market capitalization of $187.38 billion, a P/E ratio of 65.08, a PEG ratio of 2.85 and a beta of 1.24. The stock has a 50-day simple moving average of $608.44 and a 200-day simple moving average of $619.15.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

Several hedge funds have recently made changes to their positions in INTU. Whalen Wealth Management Inc. acquired a new position in Intuit in the fourth quarter valued at $621,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after acquiring an additional 1,602 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Intuit by 10.2% in the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker’s stock valued at $13,906,000 after acquiring an additional 2,055 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Intuit in the fourth quarter valued at $109,988,000. Institutional investors and hedge funds 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.