Intuit (NASDAQ:INTU) Stock Price Expected to Rise, Bank of America Analyst Says

Intuit (NASDAQ:INTU - Get Free Report) had its price objective upped by equities researchers at Bank of America from $730.00 to $875.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Bank of America's target price would indicate a potential upside of 21.86% from the stock's current price.

Several other equities analysts have also recently issued reports on INTU. BMO Capital Markets boosted their price target on Intuit from $714.00 to $820.00 and gave the company an "outperform" rating in a research report on Friday. Barclays boosted their price objective on shares of Intuit from $775.00 to $815.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup boosted their target price on shares of Intuit from $726.00 to $789.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $778.35.

Intuit Stock Up 7.8%

Intuit stock traded up $51.97 during mid-day trading on Friday, hitting $718.04. The company had a trading volume of 3,729,399 shares, compared to its average volume of 1,624,968. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 1 year low of $532.65 and a 1 year high of $733.51. The business has a fifty day moving average of $614.34 and a 200 day moving average of $620.51. The stock has a market cap of $200.74 billion, a price-to-earnings ratio of 69.71, a PEG ratio of 2.85 and a beta of 1.24.

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

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction on 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 owns 21,882 shares of the company's stock, valued at $13,401,849.72. The trade was a 27.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. R Squared Ltd acquired a new position in Intuit in the fourth quarter worth $25,000. Copia Wealth Management acquired a new stake in Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Institutional investors 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.

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