UBS Group Forecasts Strong Price Appreciation for Intuit (NASDAQ:INTU) Stock

Intuit (NASDAQ:INTU - Get Free Report) had its target price upped by analysts at UBS Group from $720.00 to $750.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. UBS Group's price target points to a potential upside of 4.79% from the stock's previous close.

A number of other research analysts have also weighed in on the company. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $750.00 price target on shares of Intuit in a research note on Monday. Stifel Nicolaus raised their price objective on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday. Barclays lifted their price target on Intuit from $775.00 to $815.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $768.10.

Intuit Stock Performance

INTU stock traded up $49.66 on Friday, hitting $715.73. The company's stock had a trading volume of 3,375,211 shares, compared to its average volume of 1,623,659. The stock has a market cap of $200.09 billion, a price-to-earnings ratio of 69.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The firm has a 50 day moving average of $614.34 and a two-hundred day 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 has a 1 year low of $532.65 and a 1 year high of $733.51.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results 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 business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.88 earnings per share. Equities analysts predict that Intuit will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 completion of the transaction, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction dated 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 sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company's stock.

Institutional Trading of Intuit

Several institutional investors have recently added to or reduced their stakes in the stock. Mattson Financial Services LLC lifted its stake in Intuit by 27.4% in the first quarter. Mattson Financial Services LLC now owns 3,567 shares of the software maker's stock valued at $2,190,000 after buying an additional 768 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Intuit by 33.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,354 shares of the software maker's stock worth $831,000 after acquiring an additional 340 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Intuit by 3.5% during the 1st quarter. Belpointe Asset Management LLC now owns 590 shares of the software maker's stock valued at $362,000 after buying an additional 20 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Intuit by 59.1% in the first quarter. Intech Investment Management LLC now owns 7,462 shares of the software maker's stock valued at $4,582,000 after purchasing an additional 2,773 shares in the last quarter. Finally, Integrity Alliance LLC. grew its holdings in Intuit by 105.5% during the 1st quarter. Integrity Alliance LLC. now owns 783 shares of the software maker's stock valued at $481,000 after buying an additional 402 shares in the last quarter. 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.

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.