Intuit (NASDAQ:INTU) Price Target Raised to $722.00

Intuit (NASDAQ:INTU) had its price target lifted by Oppenheimer from $712.00 to $722.00 in a research report report published on Friday,Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

A number of other analysts have also commented on the company. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Piper Sandler decreased their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

Intuit stock opened at $640.12 on Friday. The stock has a market capitalization of $179.31 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. Intuit has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s 50 day moving average price is $634.81 and its two-hundred day moving average price is $631.19.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Intuit’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts predict that Intuit will post 14.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,265 shares of company stock valued at $35,200,125. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Intuit during the 1st quarter valued at about $60,000. Bamco Inc. NY lifted its position in Intuit by 33.9% during the first quarter. Bamco Inc. NY now owns 23,419 shares of the software maker’s stock valued at $15,222,000 after purchasing an additional 5,928 shares during the last quarter. Ascent Group LLC grew its stake in Intuit by 51.8% in the 1st quarter. Ascent Group LLC now owns 4,496 shares of the software maker’s stock worth $2,922,000 after buying an additional 1,534 shares in the last quarter. Caxton Associates LP bought a new position in shares of Intuit in the 1st quarter worth $754,000. Finally, Zurich Insurance Group Ltd FI raised its position in shares of Intuit by 11.6% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 141,023 shares of the software maker’s stock valued at $91,665,000 after buying an additional 14,648 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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.