Royal Bank of Canada Reiterates “Outperform” Rating for Intuit (NASDAQ:INTU)

Intuit (NASDAQ:INTU)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $760.00 price target on the software maker’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 18.73% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Down 5.7 %

INTU opened at $640.12 on Friday. The firm’s 50 day simple moving average is $634.81 and its two-hundred day simple moving average is $631.20. The company has a market capitalization of $179.31 billion, a PE ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced 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 return on equity of 18.28% and a net margin of 17.59%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. As a group, equities analysts forecast that Intuit will post 14.05 EPS for the current year.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction 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 directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 14.83 % 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, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

A number of large investors have recently modified their holdings of INTU. LGT Financial Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in Intuit in the second quarter worth about $26,000. Fairway Wealth LLC bought a new position in Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $35,000. Hedge funds and other 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.