Intuit's (INTU) Overweight Rating Reiterated at Piper Sandler

Intuit (NASDAQ:INTU - Get Free Report)'s stock had its "overweight" rating reiterated by investment analysts at Piper Sandler in a research note issued on Friday, Marketbeat.com reports. They presently have a $825.00 target price on the software maker's stock, up from their previous target price of $785.00. Piper Sandler's price objective points to a potential upside of 14.56% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research note on Wednesday, April 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Oppenheimer cut their price objective on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $785.33.

Intuit Price Performance

Shares of INTU traded up $54.06 during mid-day trading on Friday, hitting $720.13. 5,325,389 shares of the company were exchanged, compared to its average volume of 1,619,458. The stock has a market cap of $201.32 billion, a price-to-earnings ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit has a 1-year low of $532.65 and a 1-year high of $734.18. The company has a 50 day moving average of $616.76 and a 200-day moving average of $620.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

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

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 over the last 90 days. 2.68% of the stock is owned by insiders.

Institutional Trading of Intuit

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in Intuit in the fourth quarter valued at approximately $109,988,000. Hantz Financial Services Inc. grew its position in shares of Intuit by 10.2% during the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker's stock worth $13,906,000 after acquiring an additional 2,055 shares during the last quarter. Factory Mutual Insurance Co. acquired a new position in shares of Intuit in the 4th quarter valued at $33,248,000. Finally, V Square Quantitative Management LLC boosted its stake in Intuit by 7.0% during the 4th quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker's stock worth $4,821,000 after purchasing an additional 501 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

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.