Intuit Inc. (INTU) Given New $160.00 Price Target at Royal Bank Of Canada
Intuit Inc. (NASDAQ:INTU) had its price objective lifted by Royal Bank Of Canada from $141.00 to $160.00 in a report released on Thursday morning, MarketBeat Ratings reports. They currently have a sector perform rating on the software maker’s stock.
Several other analysts have also recently issued reports on the company. Barclays PLC increased their target price on Intuit from $135.00 to $157.00 and gave the company an equal weight rating in a research report on Wednesday, November 15th. First Analysis upgraded Intuit from an underweight rating to an equal weight rating and set a $128.00 price objective for the company in a report on Wednesday, August 23rd. William Blair began coverage on Intuit in a research note on Tuesday, September 19th. They issued an outperform rating for the company. UBS AG lowered Intuit to an underperform rating in a research note on Wednesday, September 27th. Finally, Wells Fargo & Company upgraded Intuit from a market perform rating to an outperform rating and set a $163.00 price objective for the company in a research note on Thursday, September 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $149.00.
Intuit (NASDAQ INTU) traded up $0.90 during trading hours on Thursday, hitting $156.55. The company had a trading volume of 1,247,600 shares, compared to its average volume of 1,474,043. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $40,180.00, a P/E ratio of 41.53, a P/E/G ratio of 2.76 and a beta of 1.18. Intuit has a 12 month low of $111.48 and a 12 month high of $156.71.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The business had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. equities research analysts predict that Intuit will post 4.03 earnings per share for the current year.
In related news, EVP Henry Tayloe Stansbury sold 1,783 shares of Intuit stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total transaction of $257,108.60. Following the sale, the executive vice president now owns 2,675 shares of the company’s stock, valued at approximately $385,735. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction on Monday, September 11th. The stock was sold at an average price of $142.31, for a total transaction of $265,835.08. Following the sale, the vice president now directly owns 1,713 shares in the company, valued at approximately $243,777.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,084,194 shares of company stock worth $151,162,540. 5.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of INTU. Exane Derivatives bought a new stake in Intuit in the 3rd quarter valued at about $105,000. Horan Capital Advisors LLC. bought a new stake in shares of Intuit in the 3rd quarter worth approximately $114,000. Captrust Financial Advisors bought a new stake in shares of Intuit in the 2nd quarter worth approximately $108,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Intuit in the 2nd quarter worth approximately $123,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Intuit in the 2nd quarter worth approximately $140,000. 86.57% of the stock is owned by institutional investors and hedge funds.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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