Intuit (NASDAQ:INTU) had its target price hoisted by equities researchers at Credit Suisse Group from $185.00 to $195.00 in a note issued to investors on Monday, March 12th. The firm presently has an “outperform” rating on the software maker’s stock. Credit Suisse Group’s price target would indicate a potential upside of 16.29% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised Intuit from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Royal Bank of Canada reissued a “hold” rating and set a $182.00 price objective on shares of Intuit in a report on Friday, February 23rd. Barclays increased their price objective on Intuit from $135.00 to $157.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 15th. Bank of America increased their price objective on Intuit from $172.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, JPMorgan Chase increased their price objective on Intuit to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Intuit presently has a consensus rating of “Hold” and a consensus target price of $167.05.
Shares of NASDAQ INTU traded down $4.15 during trading on Monday, reaching $167.68. 1,995,825 shares of the stock traded hands, compared to its average volume of 1,485,263. Intuit has a 52-week low of $115.62 and a 52-week high of $179.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $44,320.03, a PE ratio of 44.48, a P/E/G ratio of 2.63 and a beta of 1.12.
In other Intuit news, EVP Henry Tayloe Stansbury sold 9,666 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $171.59, for a total value of $1,658,588.94. Following the sale, the executive vice president now owns 6,242 shares of the company’s stock, valued at approximately $1,071,064.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 259,205 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $171.72, for a total value of $44,510,682.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 849,809 shares of company stock worth $147,885,200. Insiders own 5.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Intuit by 3.0% during the 4th quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock valued at $2,669,740,000 after purchasing an additional 486,554 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Intuit by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 3,020,966 shares of the software maker’s stock valued at $475,804,000 after purchasing an additional 167,550 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Intuit by 102.0% during the 4th quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock valued at $215,555,000 after purchasing an additional 828,387 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Intuit by 1.8% during the 4th quarter. Franklin Resources Inc. now owns 1,421,635 shares of the software maker’s stock valued at $224,306,000 after purchasing an additional 25,601 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Intuit by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 1,274,857 shares of the software maker’s stock valued at $181,210,000 after purchasing an additional 51,879 shares during the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
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