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

Intuit (NASDAQ:INTU) had its price objective raised by Jefferies Financial Group from $735.00 to $850.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other equities analysts have also recently weighed in on INTU. Morgan Stanley decreased their price target on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group upped their price target on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a report on Monday, May 19th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Citigroup reduced 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, Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $785.33.

Intuit Stock Up 8.1%

Shares of NASDAQ:INTU opened at $720.13 on Friday. 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 1 year low of $532.65 and a 1 year high of $734.18. The stock has a market capitalization of $201.32 billion, a P/E ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. The stock has a 50-day simple moving average of $616.76 and a 200-day simple moving average of $620.65.

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

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the 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 sale, the insider now directly 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 Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the 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 in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last ninety days. 2.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

Several large investors have recently added to or reduced their stakes in INTU. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 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 period. Capitolis Liquid Global Markets LLC acquired a new position in shares of Intuit during the fourth quarter valued at $109,988,000. Hantz Financial Services Inc. increased its holdings in shares of Intuit by 10.2% during the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker’s stock valued at $13,906,000 after purchasing an additional 2,055 shares during the period. Factory Mutual Insurance Co. acquired a new position in shares of Intuit during the fourth quarter valued at $33,248,000. Finally, V Square Quantitative Management LLC increased its holdings in shares of Intuit by 7.0% during the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock valued at $4,821,000 after purchasing an additional 501 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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.