Stifel Nicolaus Issues Positive Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU - Get Free Report) had its target price boosted by Stifel Nicolaus from $725.00 to $850.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the software maker's stock. Stifel Nicolaus' target price would indicate a potential upside of 17.06% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Citigroup decreased their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased 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. The Goldman Sachs Group reiterated a "buy" rating and issued a $750.00 price objective on shares of Intuit in a report on Monday. Finally, Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus target price of $753.65.

Intuit Stock Performance

NASDAQ INTU traded up $60.03 during trading hours on Friday, reaching $726.10. The stock had a trading volume of 2,320,851 shares, compared to its average volume of 1,620,560. The stock has a market cap of $202.99 billion, a P/E ratio of 70.51, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit has a 52-week low of $532.65 and a 52-week high of $733.51. The stock has a fifty day moving average of $614.34 and a 200 day moving average of $620.51. 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 (NASDAQ:INTU - Get Free Report) last announced 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 company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the company posted $9.88 earnings per share. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts predict that Intuit will post 14.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was 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 represents a 99.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction dated 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 directly owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17% 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 in the last 90 days. Corporate 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 added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after buying an additional 294,993 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock valued at $5,537,435,000 after acquiring an additional 649,212 shares during the last quarter. Geode Capital Management LLC boosted its stake in Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after acquiring an additional 132,384 shares in the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 6.8% in the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock valued at $3,472,266,000 after acquiring an additional 358,328 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Intuit during the fourth quarter worth about $2,290,419,000. 83.66% of the stock is owned by institutional investors and hedge funds.

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.

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