Intuit’s (INTU) Outperform Rating Reaffirmed at Oppenheimer

Intuit (NASDAQ:INTU)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They currently have a $742.00 target price on the software maker’s stock, up from their previous target price of $642.00. Oppenheimer’s price objective would suggest a potential upside of 3.04% from the company’s current price.

INTU has been the topic of several other research reports. JPMorgan Chase & Co. upped their price target on shares of Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group set a $750.00 target price on shares of Intuit and gave the company a “neutral” rating in a research report on Friday. Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their target price on shares of Intuit from $775.00 to $825.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Morgan Stanley upped their target price on shares of Intuit from $720.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $785.33.

Intuit Stock Up 8.1%

INTU opened at $720.13 on Friday. The firm’s 50-day simple moving average is $616.76 and its 200-day simple moving average is $620.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit has a twelve month low of $532.65 and a twelve month high of $734.18. The firm 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 (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping 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 business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Intuit will post 14.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the firm’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 sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.