Intuit (NASDAQ:INTU) PT Raised to $750.00

Intuit (NASDAQ:INTU) had its price target boosted by stock analysts at Citigroup from $727.00 to $750.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Citigroup’s price objective points to a potential upside of 14.12% from the stock’s previous close.

Other analysts have also issued reports about the company. Susquehanna lowered their price target on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Stifel Nicolaus dropped their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Bank of America lowered their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, UBS Group increased their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $683.91.

Intuit Trading Up 0.9 %

Shares of NASDAQ:INTU opened at $657.21 on Friday. The business’s 50 day moving average price is $618.61 and its 200-day moving average price is $628.16. Intuit has a 1 year low of $444.19 and a 1 year high of $676.62. The firm has a market capitalization of $183.72 billion, a price-to-earnings ratio of 60.63, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the firm posted $7.80 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Intuit will post 11.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. Insiders have sold 193,937 shares of company stock worth $113,123,232 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

A number of large investors have recently modified their holdings of the company. DiNuzzo Private Wealth Inc. purchased a new position in Intuit in the fourth quarter valued at $25,000. West Branch Capital LLC lifted its stake in Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. MCF Advisors LLC boosted its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Intuit in the fourth quarter valued at approximately $38,000. Finally, Sachetta LLC acquired a new stake in Intuit during the fourth quarter worth approximately $39,000. 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.