Intuit (NASDAQ:INTU) PT Raised to $495.00

Intuit (NASDAQ:INTU – Get Rating) had its price target increased by Citigroup from $475.00 to $495.00 in a research report sent to investors on Wednesday, The Fly reports.

A number of other research analysts have also recently issued reports on INTU. Piper Sandler raised their price target on shares of Intuit from $459.00 to $510.00 and gave the stock an overweight rating in a report on Friday, February 24th. KeyCorp raised their price target on shares of Intuit from $475.00 to $485.00 and gave the stock an overweight rating in a report on Monday, April 17th. BMO Capital Markets raised their price target on shares of Intuit from $448.00 to $462.00 and gave the stock an outperform rating in a report on Friday, February 24th. Wells Fargo & Company raised their price target on shares of Intuit from $475.00 to $525.00 and gave the stock an overweight rating in a report on Monday, April 3rd. Finally, Barclays raised their price target on shares of Intuit from $465.00 to $495.00 in a report on Monday, May 15th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of Moderate Buy and a consensus price target of $491.35.

Intuit Price Performance

Shares of INTU opened at $415.92 on Wednesday. The company has a market cap of $116.69 billion, a price-to-earnings ratio of 60.99, a price-to-earnings-growth ratio of 3.39 and a beta of 1.19. Intuit has a twelve month low of $352.63 and a twelve month high of $490.83. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $433.62 and a two-hundred day moving average of $412.08.

Intuit (NASDAQ:INTU – Get Rating) last announced its earnings results on Tuesday, May 23rd. The software maker reported $8.92 earnings per share for the quarter, beating the consensus estimate of $7.30 by $1.62. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.09 billion. Intuit had a net margin of 14.22% and a return on equity of 14.89%. Intuit’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $6.70 earnings per share. As a group, analysts predict that Intuit will post 9 earnings per share for the current fiscal year.

Insider Activity at Intuit

In related news, CFO Michelle M. Clatterbuck sold 545 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the sale, the chief financial officer now owns 1,350 shares in the company, valued at $568,863. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Marianna Tessel sold 1,744 shares of Intuit stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $407.36, for a total value of $710,435.84. Following the sale, the executive vice president now owns 26,458 shares in the company, valued at $10,777,930.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michelle M. Clatterbuck sold 545 shares of Intuit stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the completion of the sale, the chief financial officer now owns 1,350 shares in the company, valued at approximately $568,863. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,328 shares of company stock worth $3,019,323. 3.18% of the stock is owned by company insiders.

Institutional Trading of Intuit

Several institutional investors have recently modified their holdings of INTU. Fairfield Bush & CO. grew its position in shares of Intuit by 39.6% in the first quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after purchasing an additional 1,035 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Intuit by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after purchasing an additional 48,196 shares during the period. Cetera Investment Advisers boosted its position in Intuit by 8.4% during the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 249 shares during the last quarter. Baird Financial Group Inc. boosted its position in Intuit by 7.1% during the first quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock worth $25,825,000 after acquiring an additional 3,576 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Intuit by 6.6% during the first quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock worth $16,448,000 after acquiring an additional 2,127 shares during the last quarter. Institutional investors and hedge funds own 82.65% of the company’s stock.

Intuit Company Profile

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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.