Intuit (NASDAQ:INTU) Price Target Raised to $820.00

Intuit (NASDAQ:INTU) had its price target boosted by BMO Capital Markets from $714.00 to $820.00 in a research note published on Friday,Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

A number of other equities research analysts have also recently commented on INTU. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley raised their price objective on shares of Intuit from $720.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $785.33.

Intuit Price Performance

Shares of NASDAQ INTU opened at $720.13 on Friday. The firm has a 50-day simple moving average of $616.76 and a 200-day simple moving average of $620.65. The stock has a market capitalization of $201.32 billion, a price-to-earnings ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 52 week low of $532.65 and a 52 week high of $734.18.

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

Insider Activity at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on 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 sale, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Intuit during the fourth quarter worth $25,000. Copia Wealth Management bought a new position in shares of Intuit during the fourth quarter valued at $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the fourth quarter valued at $28,000. 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.