Intuit (NASDAQ:INTU) Price Target Raised to $800.00

Intuit (NASDAQ:INTU) had its price objective hoisted by Jefferies Financial Group from $790.00 to $800.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other research firms have also recently commented on INTU. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Scotiabank started coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Trading Down 5.7 %

NASDAQ:INTU opened at $640.12 on Friday. Intuit has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $179.31 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The business’s 50-day simple moving average is $634.81 and its 200-day simple moving average is $631.27.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that Intuit will post 14.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last ninety days. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

Several large investors have recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at about $35,000. 83.66% of the stock is currently 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.