KeyCorp Increases Intuit (NASDAQ:INTU) Price Target to $720.00

Intuit (NASDAQ:INTU) had its target price lifted by stock analysts at KeyCorp from $700.00 to $720.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price target suggests a potential upside of 10.77% from the company’s previous close.

INTU has been the topic of several other research reports. Evercore ISI upped their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Wells Fargo & Company upped their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Citigroup boosted their price target on Intuit from $565.00 to $651.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Morgan Stanley boosted their price target on Intuit from $525.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 29th. Finally, Stifel Nicolaus boosted their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Up 0.2 %

Shares of Intuit stock opened at $650.00 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit has a 12 month low of $400.22 and a 12 month high of $671.01. The business has a fifty day simple moving average of $646.73 and a 200 day simple moving average of $587.31. The stock has a market cap of $182 billion, a PE ratio of 66.33, a price-to-earnings-growth ratio of 3.90 and a beta of 1.22.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts predict that Intuit will post 11.27 EPS for the current year.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 34,260 shares of company stock valued at $20,667,475 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Intuit during the fourth quarter worth $2,101,848,000. Wellington Management Group LLP lifted its stake in Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Intuit by 118,345.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock worth $812,767,000 after purchasing an additional 2,086,431 shares during the last quarter. Morgan Stanley lifted its stake in Intuit by 42.5% during the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after purchasing an additional 1,027,752 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new stake in Intuit during the fourth quarter worth $467,852,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

About Intuit

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.