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

Intuit (NASDAQ:INTU) had its target price boosted by KeyCorp from $770.00 to $850.00 in a research note issued to investors on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.

Several other equities analysts have also recently issued reports on the company. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Barclays lifted their price target on Intuit from $775.00 to $815.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Stock Up 8.1%

INTU opened at $720.13 on Friday. Intuit has a 12 month low of $532.65 and a 12 month high of $734.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock 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. The stock’s 50 day moving average price is $616.76 and its 200 day moving average price is $620.65.

Intuit (NASDAQ:INTU) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period last year, the firm earned $9.88 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. As a group, research analysts predict that Intuit will post 14.09 earnings per share for the current year.

Insider Transactions 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 value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last quarter. Company insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Several hedge funds and other institutional investors have recently modified their holdings of INTU. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after purchasing an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new position in shares of Intuit in the fourth quarter worth about $109,988,000. Hantz Financial Services Inc. increased its stake in shares of Intuit by 10.2% in the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker’s stock worth $13,906,000 after purchasing an additional 2,055 shares during the period. Factory Mutual Insurance Co. bought a new position in shares of Intuit in the fourth quarter worth about $33,248,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Intuit by 7.0% in the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock worth $4,821,000 after purchasing an additional 501 shares during the period. 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.