Intuit (NASDAQ:INTU) PT Raised to $780.00

Intuit (NASDAQ:INTU) had its price target boosted by investment analysts at Bank of America from $730.00 to $780.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Bank of America‘s price target suggests a potential upside of 17.24% from the stock’s current price.

INTU has been the subject of several other reports. Stifel Nicolaus raised their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, July 12th. BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $701.91.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $665.29 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $185.98 billion, a PE ratio of 61.37, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The stock has a fifty day moving average of $638.78 and a 200-day moving average of $634.58. Intuit has a one year low of $473.56 and a one year high of $676.62.

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

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at approximately $664,020. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock worth $114,442,445 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuit

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC bought a new position in shares of Intuit in the second quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. acquired a new position in Intuit in the 4th quarter valued at $25,000. Cultivar Capital Inc. bought a new position in Intuit in the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new position in Intuit during the 2nd quarter worth $26,000. Finally, West Branch Capital LLC lifted its position in Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after acquiring an additional 19 shares during the last quarter. 83.66% of the stock is currently 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.