Intuit (NASDAQ:INTU) Price Target Raised to $850.00

Intuit (NASDAQ:INTU) had its target price upped by Stifel Nicolaus from $725.00 to $850.00 in a report released on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software maker’s stock.

Several other analysts have also recently issued reports on the company. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Oppenheimer cut their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Evercore ISI increased their target price on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $785.33.

Intuit Stock Up 8.1%

NASDAQ INTU opened at $720.13 on Friday. The stock’s 50-day moving average price is $616.76 and its 200-day moving average price is $620.65. 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. The company has a market capitalization of $201.32 billion, a P/E ratio of 69.92, a price-to-earnings-growth 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, topping 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the company earned $9.88 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts predict that Intuit will post 14.09 earnings per share for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53% 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 quarter. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of INTU. R Squared Ltd purchased a new position in Intuit during the fourth quarter worth $25,000. Copia Wealth Management purchased a new position in Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in Intuit during the fourth quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the fourth quarter worth $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.