Intuit’s (INTU) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Intuit (NASDAQ:INTU) in a research note issued to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $760.00 price objective on the software maker’s stock.

INTU has been the subject of several other research reports. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Piper Sandler cut their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 5.7 %

Intuit stock opened at $640.12 on Friday. The firm has a market cap of $179.31 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. The stock has a fifty day simple moving average of $634.81 and a two-hundred day simple moving average of $631.19. Intuit has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. Equities analysts predict that Intuit will post 14.05 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock worth $35,200,125 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Hedge funds have recently made changes to their positions in the company. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit in the second quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter worth approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.