Intuit's (INTU) Overweight Rating Reaffirmed at Morgan Stanley

Intuit (NASDAQ:INTU - Get Free Report)'s stock had its "overweight" rating reissued by investment analysts at Morgan Stanley in a research note issued on Friday, Marketbeat.com reports. They currently have a $785.00 target price on the software maker's stock, up from their prior target price of $720.00. Morgan Stanley's price objective indicates a potential upside of 9.01% from the stock's previous close.

Several other equities research analysts also recently commented on the company. BMO Capital Markets cut their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. UBS Group lifted their target price on shares of Intuit from $655.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Piper Sandler reiterated 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. Barclays reiterated an "overweight" rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday. Finally, Stifel Nicolaus increased their price objective on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and an average price target of $785.33.

Intuit Stock Up 8.1%

Shares of NASDAQ INTU traded up $54.06 during mid-day trading on Friday, reaching $720.13. 5,325,389 shares of the company's stock were exchanged, compared to its average volume of 1,619,458. 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 has a market capitalization of $201.32 billion, a price-to-earnings ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. The business has a fifty day simple moving average of $616.76 and a 200 day simple moving average of $620.65. Intuit has a twelve month low of $532.65 and a twelve month high of $734.18.

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, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during 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%. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 earnings per share. As a group, equities analysts expect that Intuit will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 over the last three months. Company insiders own 2.68% of the company's stock.

Hedge Funds Weigh In On Intuit

A number of institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 period. Capitolis Liquid Global Markets LLC bought a new stake in shares of Intuit during the fourth quarter worth about $109,988,000. Hantz Financial Services Inc. raised its holdings in shares of Intuit by 10.2% in the 4th 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. bought a new position in Intuit in the 4th quarter valued at about $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 valued at $4,821,000 after purchasing an additional 501 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

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.