Evercore ISI Raises Intuit (NASDAQ:INTU) Price Target to $785.00

Intuit (NASDAQ:INTU - Get Free Report) had its target price boosted by stock analysts at Evercore ISI from $685.00 to $785.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the software maker's stock. Evercore ISI's price target would indicate a potential upside of 7.95% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Oppenheimer decreased their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler reissued an "overweight" rating and set a $825.00 price target (up from $785.00) on shares of Intuit in a research report on Friday. Jefferies Financial Group raised their target price on shares of Intuit from $735.00 to $850.00 and gave the company a "buy" rating in a research note on Friday. Finally, Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $736.47.

Intuit Price Performance

Intuit stock traded up $61.15 during trading hours on Friday, hitting $727.22. 2,054,029 shares of the stock were exchanged, compared to its average volume of 1,619,755. The business's 50-day moving average is $614.34 and its two-hundred day moving average is $620.51. 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 stock has a market capitalization of $203.30 billion, a P/E ratio of 70.25, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit has a 12 month low of $532.65 and a 12 month high of $733.51.

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

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction 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 represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last three months. Corporate insiders own 2.68% of the company's stock.

Institutional Investors Weigh In On Intuit

Hedge funds have recently made changes to their positions in the company. XML Financial LLC increased its stake in shares of Intuit by 20.1% in the fourth quarter. XML Financial LLC now owns 395 shares of the software maker's stock worth $248,000 after acquiring an additional 66 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Intuit by 25.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 39,268 shares of the software maker's stock worth $24,680,000 after acquiring an additional 7,863 shares during the last quarter. True North Advisors LLC grew its holdings in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after purchasing an additional 17 shares in the last quarter. Mutual Advisors LLC grew its holdings in Intuit by 4.6% during the 4th quarter. Mutual Advisors LLC now owns 2,813 shares of the software maker's stock worth $1,708,000 after acquiring an additional 123 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in shares of Intuit by 7.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 393 shares of the software maker's stock worth $247,000 after buying an additional 28 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other 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.

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