Intuit (NASDAQ:INTU) Earns "Outperform" Rating from Oppenheimer

Intuit (NASDAQ:INTU - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Oppenheimer in a note issued to investors on Friday, MarketBeat reports. They currently have a $742.00 target price on the software maker's stock, up from their prior target price of $642.00. Oppenheimer's target price would suggest a potential downside of 1.65% from the stock's previous close.

A number of other research analysts have also recently weighed in on INTU. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Citigroup reissued a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Evercore ISI boosted their price target on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 price objective on shares of Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. One investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit Stock Performance

Intuit stock traded up $2.49 during trading on Friday, reaching $754.45. The company had a trading volume of 2,501,896 shares, compared to its average volume of 1,628,758. The firm has a market capitalization of $210.92 billion, a price-to-earnings ratio of 73.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 firm's 50-day simple moving average is $622.13 and its 200 day simple moving average is $621.81. Intuit has a 52 week low of $532.65 and a 52 week high of $774.78.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for 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 business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $9.88 EPS. Sell-side analysts forecast that Intuit will post 14.09 earnings per share for the current fiscal year.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of Intuit 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 $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, 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. In the last 90 days, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Vista Cima Wealth Management LLC purchased a new position in Intuit during the 1st quarter valued at $31,000. Strs Ohio bought a new stake in shares of Intuit during the first quarter worth $51,019,000. Carderock Capital Management Inc. boosted its stake in shares of Intuit by 2.9% during the first quarter. Carderock Capital Management Inc. now owns 10,696 shares of the software maker's stock valued at $6,567,000 after purchasing an additional 301 shares during the period. Advisors Capital Management LLC grew its holdings in shares of Intuit by 6.7% in the first quarter. Advisors Capital Management LLC now owns 1,738 shares of the software maker's stock worth $1,067,000 after purchasing an additional 109 shares during the last quarter. Finally, Mattson Financial Services LLC grew its stake in Intuit by 27.4% in the 1st quarter. Mattson Financial Services LLC now owns 3,567 shares of the software maker's stock worth $2,190,000 after acquiring an additional 768 shares in the last quarter. 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.