Intuit's (INTU) "Outperform" Rating Reiterated at Royal Bank of Canada

Intuit (NASDAQ:INTU - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They presently have a $850.00 price target on the software maker's stock, up from their previous price target of $760.00. Royal Bank of Canada's target price would indicate a potential upside of 12.71% from the company's previous close.

A number of other brokerages have also weighed in on INTU. Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Oppenheimer lowered their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Barclays reaffirmed an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Evercore ISI increased their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit Stock Performance

Shares of Intuit stock traded up $2.20 during trading hours on Friday, reaching $754.16. The company had a trading volume of 1,367,045 shares, compared to its average volume of 1,628,430. The firm has a market cap of $210.83 billion, a PE ratio of 73.31, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit has a one year low of $532.65 and a one year high of $758.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day simple moving average of $622.13 and a 200 day simple moving average of $621.81.

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

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the business's 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 completion of the transaction, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

Several large investors have recently bought and sold shares of the business. Peloton Wealth Strategists boosted its holdings in shares of Intuit by 0.3% during the 1st quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker's stock valued at $2,710,000 after acquiring an additional 15 shares during the last quarter. Decatur Capital Management Inc. raised its stake in Intuit by 0.3% during the 1st quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker's stock valued at $3,069,000 after buying an additional 16 shares during the last quarter. True North Advisors LLC lifted its holdings in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC boosted its stake in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock worth $394,000 after buying an additional 17 shares during the last quarter. Finally, Drive Wealth Management LLC grew its holdings in shares of Intuit by 2.4% in the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock worth $478,000 after acquiring an additional 18 shares during the period. 83.66% of the stock is currently 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.