Intuit (NASDAQ:INTU) Given New $450.00 Price Target at KeyCorp

Intuit (NASDAQ:INTUGet Rating) had its target price hoisted by equities researchers at KeyCorp from $425.00 to $450.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective would suggest a potential upside of 13.05% from the stock’s current price.

INTU has been the subject of several other research reports. Oppenheimer cut their target price on shares of Intuit from $516.00 to $476.00 and set an “outperform” rating for the company in a research note on Wednesday, November 30th. Moffett Nathanson started coverage on shares of Intuit in a research note on Thursday, September 22nd. They set an “outperform” rating and a $500.00 price objective for the company. Piper Sandler dropped their price objective on shares of Intuit from $553.00 to $459.00 and set an “overweight” rating for the company in a research note on Wednesday, November 30th. BMO Capital Markets dropped their price objective on shares of Intuit from $467.00 to $448.00 in a research note on Wednesday, November 30th. Finally, Morgan Stanley dropped their price objective on shares of Intuit from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Tuesday, November 22nd. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $499.21.

Intuit Price Performance

Intuit stock opened at $398.07 on Friday. Intuit has a 52 week low of $339.36 and a 52 week high of $579.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $392.66 and its 200 day simple moving average is $411.88. The firm has a market capitalization of $111.83 billion, a PE ratio of 60.59, a P/E/G ratio of 2.95 and a beta of 1.15.

Intuit (NASDAQ:INTUGet Rating) last announced its earnings results on Tuesday, November 29th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.49. Intuit had a net margin of 14.10% and a return on equity of 14.31%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. On average, equities research analysts predict that Intuit will post 8.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michelle M. Clatterbuck sold 544 shares of the firm’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $410.00, for a total transaction of $223,040.00. Following the transaction, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at $553,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Lauren D. Hotz sold 400 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $416.01, for a total value of $166,404.00. Following the completion of the transaction, the chief accounting officer now owns 2,067 shares in the company, valued at approximately $859,892.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michelle M. Clatterbuck sold 544 shares of the stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $410.00, for a total value of $223,040.00. Following the completion of the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at approximately $553,500. The disclosure for this sale can be found here. Insiders have sold 3,086 shares of company stock valued at $1,258,434 over the last three months. Company insiders own 3.18% of the company’s stock.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Intuit by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,634,094 shares of the software maker’s stock worth $9,541,277,000 after acquiring an additional 281,362 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Intuit by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,749,565 shares of the software maker’s stock worth $6,841,392,000 after acquiring an additional 575,174 shares during the period. Bishop Rock Capital L.P. boosted its position in Intuit by 27,658.9% during the 2nd quarter. Bishop Rock Capital L.P. now owns 4,562,453 shares of the software maker’s stock worth $11,837,000 after acquiring an additional 4,546,017 shares during the period. Brown Advisory Inc. boosted its position in Intuit by 6.6% during the 3rd quarter. Brown Advisory Inc. now owns 3,518,173 shares of the software maker’s stock worth $1,362,659,000 after acquiring an additional 217,504 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Intuit by 0.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,126,117 shares of the software maker’s stock worth $1,210,808,000 after acquiring an additional 22,849 shares during the period. Institutional investors and hedge funds own 82.65% of the company’s stock.

About Intuit

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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 ProConnect.

Further Reading

Analyst Recommendations for Intuit (NASDAQ:INTU)

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