Intuit (NASDAQ:INTU) Price Target Raised to $640.00

Intuit (NASDAQ:INTU - Get Free Report) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $600.00 to $640.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 0.02% from the stock's previous close.

A number of other equities research analysts also recently weighed in on INTU. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a research report on Friday. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a "sector perform" rating and a $700.00 price target on the stock. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a report on Friday, August 23rd. Finally, Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus target price of $737.44.

Intuit Price Performance

NASDAQ INTU traded down $38.58 during trading hours on Friday, hitting $640.12. The company had a trading volume of 3,294,240 shares, compared to its average volume of 1,651,052. The firm has a 50 day simple moving average of $634.81 and a 200 day simple moving average of $631.27. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. The firm has a market capitalization 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.

Intuit (NASDAQ:INTU - Get Free Report) last posted 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. Intuit's revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Intuit will post 14.05 earnings per share for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the company's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last 90 days. Insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the 2nd quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

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.