Intuit (NASDAQ:INTU) Price Target Cut to $757.00

Intuit (NASDAQ:INTU) had its price objective reduced by investment analysts at Susquehanna from $775.00 to $757.00 in a report issued on Friday, Benzinga reports. The firm presently has a “positive” rating on the software maker’s stock. Susquehanna’s price objective would indicate a potential upside of 24.51% from the company’s current price.

Other equities analysts have also issued reports about the stock. UBS Group boosted their target price on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Stifel Nicolaus increased their price objective on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. KeyCorp raised their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Bank of America decreased their price target on Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $679.41.

Intuit Stock Up 0.2 %

Shares of NASDAQ INTU opened at $608.00 on Friday. The stock has a market cap of $169.97 billion, a PE ratio of 56.00, a P/E/G ratio of 3.70 and a beta of 1.22. The company has a 50-day moving average of $634.12 and a 200 day moving average of $622.77. Intuit has a 12-month low of $400.22 and a 12-month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the company posted $7.80 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Intuit will post 11.28 EPS for the current fiscal year.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in Intuit in the fourth quarter valued at approximately $2,101,848,000. Wellington Management Group LLP increased its holdings in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of Intuit during the fourth quarter worth approximately $467,852,000. Parnassus Investments LLC lifted its holdings in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares during the period. Finally, International Assets Investment Management LLC grew its position in Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares during the last quarter. 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.