Intuit (NASDAQ:INTU) PT Set at $850.00 by Jefferies Financial Group

Intuit (NASDAQ:INTU) has been assigned a $850.00 target price by equities research analysts at Jefferies Financial Group in a report released on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 18.03% from the company’s current price.

Several other research firms also recently weighed in on INTU. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. 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 research note on Monday, May 19th. Finally, UBS Group upped their price target on Intuit from $655.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Up 8.1%

INTU stock opened at $720.13 on Friday. Intuit has a fifty-two week low of $532.65 and a fifty-two week high of $734.18. The business’s 50 day moving average price is $616.76 and its two-hundred day moving average price is $620.65. 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 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.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share 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 firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts forecast that Intuit will post 14.09 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 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. This represents a 99.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on 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 directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17% 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 valued at $14,347,731 in the last ninety days. 2.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

Several hedge funds and other institutional investors have recently modified their holdings of INTU. R Squared Ltd purchased a new stake in shares of Intuit in the 4th quarter worth $25,000. Copia Wealth Management purchased a new stake in shares of Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. 83.66% of the stock is owned by 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.