Intuit (NASDAQ:INTU) Price Target Raised to $722.00 at Oppenheimer

Intuit (NASDAQ:INTU) had its target price hoisted by Oppenheimer from $712.00 to $722.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the software maker’s stock.

A number of other research firms have also recently commented on INTU. Jefferies Financial Group increased their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Bank of America lifted 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. BMO Capital Markets increased their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Trading Down 5.7 %

NASDAQ INTU opened at $640.12 on Friday. The stock’s 50 day moving average is $634.81 and its 200 day moving average is $631.19. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $179.31 billion, a PE ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25. Intuit has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Research analysts forecast that Intuit will post 14.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock valued at $35,200,125 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

A number of large investors have recently made changes to their positions in INTU. Anchor Investment Management LLC increased its stake in Intuit by 6.6% during the third quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker’s stock worth $1,500,000 after acquiring an additional 150 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Intuit during the 3rd quarter valued at approximately $7,506,000. Invst LLC purchased a new stake in Intuit during the 3rd quarter valued at $203,000. Unigestion Holding SA bought a new stake in Intuit in the third quarter worth $1,136,000. Finally, Soltis Investment Advisors LLC boosted its stake in Intuit by 13.8% during the third quarter. Soltis Investment Advisors LLC now owns 428 shares of the software maker’s stock worth $266,000 after buying an additional 52 shares during the period. 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.