Intuit Target of Unusually High Options Trading (NASDAQ:INTU)

Intuit Inc. (NASDAQ:INTU - Get Free Report) saw unusually large options trading on Friday. Stock traders purchased 14,227 call options on the stock. This represents an increase of approximately 192% compared to the average daily volume of 4,865 call options.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INTU shares. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research report on Friday. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Finally, Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $763.45.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction that occurred 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 directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred 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 transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Whalen Wealth Management Inc. bought a new stake in Intuit during the 4th quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after buying an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. raised its stake in shares of Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after buying an additional 1,602 shares during the last quarter. Hantz Financial Services Inc. raised its stake 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 buying an additional 2,055 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Intuit in the fourth quarter valued at approximately $109,988,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $54.70 on Friday, hitting $720.77. The stock had a trading volume of 2,943,297 shares, compared to its average volume of 1,622,319. The company has a market capitalization of $201.50 billion, a price-to-earnings ratio of 70.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 has a twelve month low of $532.65 and a twelve month high of $733.51. The firm's 50 day moving average price is $614.34 and its 200-day moving average price is $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. 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 period in the previous year, the business posted $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts predict that Intuit will post 14.09 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.