Intuit (NASDAQ:INTU) Price Target Increased to $795.00 by Analysts at Stifel Nicolaus

Intuit (NASDAQ:INTU) had its price target hoisted by Stifel Nicolaus from $690.00 to $795.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other research analysts also recently commented on INTU. Morgan Stanley downgraded shares of Intuit from an overweight rating to an equal weight rating and decreased their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Erste Group Bank reissued a hold rating on shares of Intuit in a research report on Friday, June 14th. UBS Group lifted their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a neutral rating in a research report on Monday, May 20th. Royal Bank of Canada assumed coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an outperform rating and a $760.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an overweight rating in a research report on Tuesday, May 21st. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $703.27.

Intuit Stock Performance

Shares of INTU opened at $619.85 on Friday. Intuit has a 12 month low of $473.56 and a 12 month high of $676.62. The firm has a fifty day simple moving average of $639.27 and a 200 day simple moving average of $634.44. The stock has a market capitalization of $173.28 billion, a price-to-earnings ratio of 57.18, a PEG ratio of 3.14 and a beta of 1.23. 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 announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the company posted $7.80 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Intuit will post 11.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated 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 sale, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark P. Notarainni sold 465 shares of the business’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 directly owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the business’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 $855,480.70. Following the completion of the transaction, the chief financial officer now owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock worth $114,442,445 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Several hedge funds and other institutional investors have recently made changes to their positions in INTU. Jennison Associates LLC acquired a new position in shares of Intuit in the 4th quarter valued at approximately $5,421,000. Larson Financial Group LLC grew its holdings in shares of Intuit by 452.4% during the 4th quarter. Larson Financial Group LLC now owns 116 shares of the software maker’s stock valued at $73,000 after purchasing an additional 95 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in shares of Intuit during the 4th quarter valued at approximately $313,000. Kovack Advisors Inc. bought a new stake in shares of Intuit during the 4th quarter valued at approximately $299,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of Intuit during the 4th quarter valued at approximately $271,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.