Intuit (NASDAQ:INTU) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Intuit (NASDAQ:INTU - Get Free Report) had its target price upped by stock analysts at Jefferies Financial Group from $735.00 to $850.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Jefferies Financial Group's price target would indicate a potential upside of 27.61% from the stock's current price.

Several other equities analysts have also recently weighed in on INTU. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $750.00 price target on shares of Intuit in a research report on Monday. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Piper Sandler reiterated an "overweight" rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $727.67.

Intuit Stock Up 0.9%

INTU stock opened at $666.07 on Friday. The firm has a market cap of $186.21 billion, a PE ratio of 64.67, a PEG 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 $723.44. The company has a fifty day simple moving average of $614.34 and a 200 day simple moving average of $620.51. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the company earned $9.88 earnings per share. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Intuit will post 14.09 EPS for the current fiscal year.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. In 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.

Hedge Funds Weigh In On Intuit

Several institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after purchasing an additional 3,648 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Intuit by 10.2% in the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker's stock valued at $13,906,000 after buying an additional 2,055 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in Intuit during the 4th quarter worth about $109,988,000. Factory Mutual Insurance Co. bought a new stake in Intuit during the 4th quarter worth about $33,248,000. Finally, V Square Quantitative Management LLC grew its holdings 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 acquiring an additional 501 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

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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