Intuit (NASDAQ:INTU) Price Target Raised to $815.00

Intuit (NASDAQ:INTU) had its target price upped by Barclays from $775.00 to $815.00 in a report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

A number of other analysts also recently issued reports on the company. UBS Group raised their target price on Intuit from $655.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Jefferies Financial Group raised their target price on Intuit from $735.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Stock Up 8.1%

NASDAQ INTU opened at $720.13 on Friday. The business has a fifty day moving average price of $616.76 and a 200 day moving average price of $620.65. Intuit has a one year low of $532.65 and a one year high of $734.18. 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 cap of $201.32 billion, a P/E ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the company earned $9.88 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. Research analysts anticipate that Intuit will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 in the last three months. 2.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuit

A number of hedge funds have recently bought and sold shares of the stock. Peloton Wealth Strategists raised its position in Intuit by 0.3% in the 1st quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker’s stock valued at $2,710,000 after purchasing an additional 15 shares in the last quarter. Decatur Capital Management Inc. raised its position in Intuit by 0.3% in the 1st quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker’s stock valued at $3,069,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC raised its position in Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC raised its position in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares in the last quarter. Finally, Drive Wealth Management LLC raised its position in Intuit by 2.4% in the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker’s stock valued at $478,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

About Intuit

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.