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

Intuit (NASDAQ:INTU)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They currently have a $760.00 target price on the software maker’s stock. Royal Bank of Canada’s price target points to a potential upside of 18.73% from the company’s current price.

Several other research analysts have also issued reports on INTU. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Piper Sandler lowered their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Performance

INTU stock opened at $640.12 on Friday. Intuit has a one year low of $557.29 and a one year high of $714.78. 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 company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50-day simple moving average of $634.81 and a two-hundred day simple moving average of $631.20.

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

Insider Buying and Selling at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The trade was a 30.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuit

A number of large investors have recently bought and sold shares of the business. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC purchased a new stake in Intuit in the 2nd quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at about $35,000. Institutional investors and hedge funds 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.