Intuit (NASDAQ:INTU) Receives “Positive” Rating from Susquehanna

Intuit (NASDAQ:INTU)‘s stock had its “positive” rating reaffirmed by equities researchers at Susquehanna in a research note issued on Friday, Benzinga reports. They currently have a $757.00 price target on the software maker’s stock. Susquehanna’s price objective points to a potential upside of 15.80% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, July 12th. Stifel Nicolaus lowered their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. UBS Group upped their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. Wells Fargo & Company boosted their price target on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $750.00 to $685.00 in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.77.

Intuit Trading Up 0.2 %

NASDAQ INTU traded up $1.57 during trading on Friday, hitting $653.71. The company had a trading volume of 164,907 shares, compared to its average volume of 1,313,785. The company’s fifty day moving average is $630.28 and its 200-day moving average is $633.78. The company has a market cap of $182.74 billion, a price-to-earnings ratio of 60.25, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. 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 has a one year low of $473.56 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $7.80 earnings per share. On average, sell-side analysts predict that Intuit will post 11.72 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Scott D. Cook sold 14,748 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its stake in Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after acquiring an additional 2,641 shares in the last quarter. Parnassus Investments LLC grew its position 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 valued at $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Intuit by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after buying an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after buying an additional 1,990 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Company Profile

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.