Mizuho Forecasts Strong Price Appreciation for Intuit (NASDAQ:INTU) Stock

Intuit (NASDAQ:INTU - Get Free Report) had its price objective lifted by stock analysts at Mizuho from $750.00 to $765.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the software maker's stock. Mizuho's price objective points to a potential upside of 23.88% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Scotiabank decreased their target price on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Citigroup cut their price target on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $721.61.

Intuit Trading Up 3.3 %

INTU stock traded up $19.44 during trading on Monday, reaching $617.51. The company had a trading volume of 1,614,913 shares, compared to its average volume of 1,910,791. Intuit has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a market cap of $172.63 billion, a P/E ratio of 59.95, a PEG ratio of 2.85 and a beta of 1.24. The business has a 50 day moving average of $603.65 and a 200 day moving average of $626.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 224,460 shares of company stock worth $144,750,747. Company insiders own 2.68% of the company's stock.

Institutional Trading of Intuit

Institutional investors and hedge funds have recently modified their holdings of the company. Princeton Global Asset Management LLC increased its holdings in Intuit by 81.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 149 shares of the software maker's stock valued at $93,000 after acquiring an additional 67 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Intuit by 0.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 31,405 shares of the software maker's stock valued at $19,503,000 after acquiring an additional 242 shares during the last quarter. Van ECK Associates Corp increased its holdings in Intuit by 9.1% in the 3rd quarter. Van ECK Associates Corp now owns 59,922 shares of the software maker's stock valued at $36,074,000 after acquiring an additional 4,987 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Intuit by 0.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 406,437 shares of the software maker's stock valued at $252,397,000 after acquiring an additional 3,182 shares during the last quarter. Finally, Citizens National Bank Trust Department increased its holdings in Intuit by 5.8% in the 3rd quarter. Citizens National Bank Trust Department now owns 2,557 shares of the software maker's stock valued at $1,588,000 after acquiring an additional 140 shares during the last quarter. 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.