Intuit (NASDAQ:INTU) Price Target Raised to $790.00 at Jefferies Financial Group

Intuit (NASDAQ:INTU) had its price target raised by Jefferies Financial Group from $770.00 to $790.00 in a research note published on Friday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the software maker’s stock.

INTU has been the subject of a number of other research reports. Citigroup lifted their target price on Intuit from $727.00 to $750.00 and gave the company a buy rating in a report on Friday, June 28th. Royal Bank of Canada started coverage on Intuit in a report on Wednesday, July 3rd. They set an outperform rating and a $760.00 target price for the company. UBS Group lifted their target price on Intuit from $625.00 to $670.00 and gave the company a neutral rating in a report on Monday, May 20th. KeyCorp lifted their target price on Intuit from $720.00 to $740.00 and gave the company an overweight rating in a report on Monday, May 20th. Finally, Erste Group Bank reissued a hold rating on shares of Intuit in a report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Intuit currently has an average rating of Moderate Buy and a consensus target price of $703.27.

Intuit Trading Down 6.8 %

Shares of INTU opened at $619.85 on Friday. The business has a 50-day moving average of $639.27 and a 200 day moving average of $634.44. Intuit has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The firm has a market cap of $173.28 billion, a P/E ratio of 57.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

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

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. 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 owned by insiders.

Institutional Trading of Intuit

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares during the last quarter. Wellington Management Group LLP lifted its position in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Brown Advisory Inc. lifted its position in Intuit by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after purchasing an additional 80,517 shares during the last quarter. Norges Bank bought a new stake in Intuit in the fourth quarter valued at approximately $2,101,848,000. Finally, Fisher Asset Management LLC lifted its position in Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock valued at $1,946,954,000 after purchasing an additional 270,432 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

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.