Intuit (NASDAQ:INTU) Price Target Raised to $500.00 at Bank of America

Intuit (NASDAQ:INTUGet Rating) had its price target lifted by Bank of America from $485.00 to $500.00 in a report issued on Wednesday, The Fly reports.

Several other brokerages have also recently weighed in on INTU. Atlantic Securities began coverage on Intuit in a research note on Monday, April 24th. They set an overweight rating and a $530.00 target price for the company. Daiwa Capital Markets began coverage on Intuit in a report on Wednesday, March 15th. They set an outperform rating and a $444.00 target price for the company. Citigroup upped their target price on Intuit from $475.00 to $495.00 in a report on Wednesday. KeyCorp increased their price objective on Intuit from $475.00 to $485.00 and gave the stock an overweight rating in a research note on Monday, April 17th. Finally, UBS Group initiated coverage on Intuit in a research note on Wednesday, March 15th. They issued a neutral rating and a $430.00 price objective for the company. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $491.35.

Intuit Trading Down 7.5 %

Shares of INTU stock opened at $415.92 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.23. Intuit has a 1 year low of $352.63 and a 1 year high of $490.83. The stock has a fifty day moving average of $433.62 and a two-hundred day moving average of $412.08. The firm has a market capitalization of $116.69 billion, a PE ratio of 60.99, a price-to-earnings-growth ratio of 3.39 and a beta of 1.19.

Intuit (NASDAQ:INTUGet Rating) last announced its quarterly earnings results on Tuesday, May 23rd. The software maker reported $8.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.30 by $1.62. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.09 billion. Intuit had a return on equity of 14.89% and a net margin of 14.22%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.70 EPS. As a group, research analysts expect that Intuit will post 9 EPS for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 500 shares of Intuit stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $413.16, for a total transaction of $206,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,781 shares of the company’s stock, valued at $735,837.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 500 shares of Intuit stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $413.16, for a total transaction of $206,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,781 shares of the company’s stock, valued at $735,837.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 545 shares of Intuit stock in a transaction on Monday, February 27th. The shares were sold at an average price of $421.38, for a total value of $229,652.10. Following the transaction, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at $568,863. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,328 shares of company stock valued at $3,019,323. 3.18% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTU. Sunbelt Securities Inc. grew its position in shares of Intuit by 41.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,860 shares of the software maker’s stock worth $1,108,000 after buying an additional 844 shares during the period. Fifth Third Bancorp grew its position in shares of Intuit by 5.9% in the 4th quarter. Fifth Third Bancorp now owns 33,075 shares of the software maker’s stock valued at $12,873,000 after purchasing an additional 1,840 shares during the period. Lido Advisors LLC grew its position in shares of Intuit by 16.9% in the 3rd quarter. Lido Advisors LLC now owns 1,527 shares of the software maker’s stock valued at $591,000 after purchasing an additional 221 shares during the period. M Holdings Securities Inc. grew its position in shares of Intuit by 26.4% in the 3rd quarter. M Holdings Securities Inc. now owns 733 shares of the software maker’s stock valued at $284,000 after purchasing an additional 153 shares during the period. Finally, Roberts Wealth Advisors LLC lifted its stake in Intuit by 1.0% in the 4th quarter. Roberts Wealth Advisors LLC now owns 5,382 shares of the software maker’s stock valued at $2,105,000 after acquiring an additional 53 shares in the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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