Intuit (NASDAQ:INTU) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Intuit (NASDAQ:INTU) had its price target increased by stock analysts at Jefferies Financial Group from $790.00 to $800.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 23.32% from the stock’s current price.

INTU has been the subject of several other research reports. Scotiabank began coverage on shares of Intuit in a research report on Monday. They set a “sector perform” rating and a $700.00 target price for the company. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday. Piper Sandler lowered their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $29.99 during midday trading on Friday, reaching $648.71. The company’s stock had a trading volume of 1,510,263 shares, compared to its average volume of 1,349,597. The business’s fifty day simple moving average is $635.12 and its 200-day simple moving average is $631.23. The company has a market capitalization of $181.72 billion, a P/E ratio of 62.18, a P/E/G ratio of 3.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Intuit will post 14.05 EPS for the current fiscal year.

Insider Activity

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of hedge funds have recently bought and sold shares of INTU. EntryPoint Capital LLC bought a new position in Intuit during the first quarter worth $60,000. Bamco Inc. NY increased its stake in Intuit by 33.9% in the first quarter. Bamco Inc. NY now owns 23,419 shares of the software maker’s stock valued at $15,222,000 after purchasing an additional 5,928 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Intuit by 51.8% during the first quarter. Ascent Group LLC now owns 4,496 shares of the software maker’s stock valued at $2,922,000 after buying an additional 1,534 shares during the last quarter. Caxton Associates LP purchased a new position in Intuit during the first quarter worth about $754,000. Finally, Zurich Insurance Group Ltd FI boosted its holdings in Intuit by 11.6% during the first quarter. Zurich Insurance Group Ltd FI now owns 141,023 shares of the software maker’s stock worth $91,665,000 after purchasing an additional 14,648 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

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.