Intuit (NASDAQ:INTU) Given Overweight Rating at Wells Fargo & Company

Intuit (NASDAQ:INTU - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Wells Fargo & Company in a research report issued on Friday, Marketbeat.com reports. They currently have a $825.00 price target on the software maker's stock, up from their prior price target of $775.00. Wells Fargo & Company's target price would indicate a potential upside of 9.35% from the stock's current price.

Other equities analysts have also issued reports about the company. 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 report on Thursday, April 17th. Oppenheimer cut their price target on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Bank of America raised their price target on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $785.33.

Intuit Stock Performance

NASDAQ INTU traded up $2.49 on Friday, hitting $754.45. 2,501,896 shares of the stock traded hands, compared to its average volume of 1,632,778. The business's fifty day moving average is $622.13 and its two-hundred day moving average is $621.81. Intuit has a 12 month low of $532.65 and a 12 month high of $758.42. The firm has a market capitalization of $210.92 billion, a price-to-earnings ratio of 73.25, a PEG 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 (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $7.56 billion. During the same period in the prior year, the company earned $9.88 earnings per share. Intuit's revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts anticipate that Intuit will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction dated 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 $24,119,224.70. The trade was a 15.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last 90 days. Corporate insiders own 2.68% of the company's stock.

Institutional Investors Weigh In On Intuit

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Intuit by 2.2% in the fourth 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. Capitolis Liquid Global Markets LLC purchased a new position in shares of Intuit in the fourth quarter worth about $109,988,000. Hantz Financial Services Inc. increased its holdings in shares of Intuit by 10.2% in 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 period. Factory Mutual Insurance Co. purchased a new position in shares of Intuit in the fourth quarter worth about $33,248,000. Finally, V Square Quantitative Management LLC increased its holdings in shares of Intuit by 7.0% in the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker's stock worth $4,821,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

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.