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

Intuit (NASDAQ:INTU) had its price objective increased by stock analysts at Barclays from $740.00 to $800.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Barclays‘s price target points to a potential upside of 16.30% from the company’s previous close.

INTU has been the subject of a number of other research reports. BMO Capital Markets increased their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $739.24.

Intuit Trading Down 1.8 %

Shares of INTU stock opened at $687.87 on Friday. Intuit has a 52-week low of $552.68 and a 52-week high of $714.78. The stock has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a P/E/G ratio of 3.45 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 fifty day moving average of $633.08 and a 200-day moving average of $630.06.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Intuit will post 14.04 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This trade represents a 99.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Intuit

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares during the period. Holocene Advisors LP raised its holdings in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Intuit during the 2nd quarter worth approximately $184,982,000. Ameriprise Financial Inc. raised its holdings in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, State Street Corp raised its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.