Intuit (NASDAQ:INTU) Price Target Raised to $730.00

Intuit (NASDAQ:INTU) had its price objective lifted by Morgan Stanley from $685.00 to $730.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

Several other research analysts have also recently weighed in on INTU. Scotiabank assumed 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. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Barclays boosted their price objective on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 5.7 %

Shares of Intuit stock opened at $640.12 on Friday. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. The business’s fifty day moving average price is $634.81 and its two-hundred day moving average price is $631.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.14 billion. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. As a group, research analysts forecast that Intuit will post 14.05 EPS for the current year.

Insider Activity

In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock worth $35,200,125 in the last three months. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

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