Intuit (NASDAQ:INTU) Given New $600.00 Price Target at JPMorgan Chase & Co.

Intuit (NASDAQ:INTU) had its price target raised by JPMorgan Chase & Co. from $585.00 to $600.00 in a research report sent to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

INTU has been the topic of several other reports. Erste Group Bank reiterated a hold rating on shares of Intuit in a research report on Friday, June 14th. BMO Capital Markets increased their price target on shares of Intuit from $700.00 to $760.00 and gave the company an outperform rating in a research report on Friday. Royal Bank of Canada initiated coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an outperform rating and a $760.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Intuit from $690.00 to $795.00 and gave the company a buy rating in a research report on Friday. Finally, KeyCorp increased their price target on shares of Intuit from $720.00 to $740.00 and gave the company an overweight rating in a research report on Monday, May 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $703.27.

Intuit Trading Down 6.8 %

Shares of Intuit stock opened at $619.85 on Friday. The company has a 50-day moving average of $639.27 and a two-hundred day moving average of $634.44. The stock has a market cap of $173.28 billion, a PE ratio of 57.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. Intuit has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last released its quarterly 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 for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $7.80 earnings per share. On average, research analysts anticipate that Intuit will post 11.72 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the transaction, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock worth $114,442,445 in the last quarter. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

A number of hedge funds have recently made changes to their positions in the business. JFS Wealth Advisors LLC increased its stake in Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares during the period. EverSource Wealth Advisors LLC increased its stake in Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after buying an additional 16 shares during the period. Fortitude Family Office LLC increased its stake in Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co increased its stake in Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares during the period. Finally, Gemmer Asset Management LLC increased its stake in Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Company Profile

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.