Intuit (NASDAQ:INTU) Given New $742.00 Price Target at Oppenheimer

Intuit (NASDAQ:INTU - Get Free Report) had its price target raised by stock analysts at Oppenheimer from $642.00 to $742.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the software maker's stock. Oppenheimer's price objective would suggest a potential upside of 2.79% from the stock's current price.

INTU has been the subject of a number of other research reports. Jefferies Financial Group lifted their target price on shares of Intuit from $735.00 to $850.00 and gave the stock a "buy" rating in a report on Friday. Citigroup lifted their price target on shares of Intuit from $726.00 to $789.00 and gave the stock a "buy" rating in a research report on Friday. BMO Capital Markets boosted their target price on Intuit from $714.00 to $820.00 and gave the company an "outperform" rating in a research note on Friday. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Barclays boosted their price objective on Intuit from $775.00 to $815.00 and gave the company an "overweight" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Intuit Price Performance

INTU stock traded up $55.76 during trading on Friday, hitting $721.83. 4,021,494 shares of the stock traded hands, compared to its average volume of 1,626,028. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $201.80 billion, a price-to-earnings ratio of 70.07, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit has a one year low of $532.65 and a one year high of $733.51. The company has a 50 day simple moving average of $614.34 and a 200 day simple moving average of $620.51.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $9.88 earnings per share. Equities analysts expect that Intuit will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company's stock, 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, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

A number of hedge funds and other institutional investors have recently bought and sold shares of INTU. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter valued at $25,000. Copia Wealth Management bought a new stake in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC boosted its stake in shares of Intuit by 72.0% during 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. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the fourth quarter worth $28,000. 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.

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