Intuit (NASDAQ:INTU) Now Covered by CLSA

Equities researchers at CLSA began coverage on shares of Intuit (NASDAQ:INTU - Get Free Report) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set an "outperform" rating and a $900.00 price target on the software maker's stock. CLSA's price target suggests a potential upside of 16.45% from the stock's current price.

Several other research analysts have also recently issued reports on INTU. Morgan Stanley reiterated an "overweight" rating and issued a $785.00 price objective (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Barclays reiterated an "overweight" rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus price target of $793.05.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $15.00 during midday trading on Thursday, hitting $772.86. The stock had a trading volume of 1,416,949 shares, compared to its average volume of 1,611,738. Intuit has a 1 year low of $532.65 and a 1 year high of $773.93. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $692.96 and a two-hundred day moving average price of $636.84. The company has a market capitalization of $215.59 billion, a PE ratio of 62.73, a P/E/G ratio of 3.37 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm earned $9.88 earnings per share. The firm's revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts predict that Intuit will post 14.09 earnings per share for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,158 shares of company stock valued at $202,989,194 over the last quarter. Insiders own 2.68% of the company's stock.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the business. Copia Wealth Management purchased a new stake in Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC grew its holdings 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 during the period. Summit Securities Group LLC purchased a new stake in Intuit in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth approximately $28,000. Finally, Vista Cima Wealth Management LLC purchased a new position in Intuit during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

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.