Intuit (NASDAQ:INTU) Receives Overweight Rating from Barclays

Barclays restated their overweight rating on shares of Intuit (NASDAQ:INTU - Free Report) in a research note released on Friday morning, Marketbeat reports. The brokerage currently has a $815.00 target price on the software maker's stock, up from their previous target price of $775.00.

Several other analysts have also weighed in on the stock. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a "buy" rating in a report on Friday. Evercore ISI lifted their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday. Finally, Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $785.33.

Intuit Price Performance

Shares of INTU stock traded up $31.83 during trading hours on Friday, hitting $751.96. The company had a trading volume of 4,076,672 shares, compared to its average volume of 1,629,290. Intuit has a 12 month low of $532.65 and a 12 month high of $751.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm's fifty day moving average is $619.10 and its 200 day moving average is $620.90. The firm has a market capitalization of $210.22 billion, a price-to-earnings ratio of 73.01, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business earned $9.88 earnings per share. The business's revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that Intuit will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 in the last ninety days. Company insiders own 2.68% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Copia Wealth Management bought a new position in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC grew its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Intuit in the 4th quarter valued at $28,000. Finally, Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth about $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.

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.