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

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

A number of other equities research analysts have also recently commented on INTU. Piper Sandler decreased their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 5.7 %

NASDAQ INTU opened at $640.12 on Friday. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. 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 company has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The stock’s 50-day moving average price is $634.81 and its 200-day moving average price is $631.27.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. On average, equities research analysts predict that Intuit will post 14.05 earnings per share for the current year.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated 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 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 filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harvest Portfolios Group Inc. grew its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares in the last quarter. GAMMA Investing LLC grew its holdings in Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares in the last quarter. Retireful LLC bought a new position in Intuit during the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Intuit in the 3rd quarter valued at about $56,144,000. Finally, Cetera Advisors LLC lifted its position in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after purchasing an additional 2,655 shares during the period. Institutional investors own 83.66% of the company’s stock.

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.