Brokerages Set Intuit Inc. (NASDAQ:INTU) Price Target at $720.16

Intuit Inc. (NASDAQ:INTU) has earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $717.24.

A number of equities analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. HSBC raised shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. UBS Group raised their price target on shares of Intuit from $655.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Finally, Morgan Stanley lowered their price objective on Intuit from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th.

Intuit Price Performance

Shares of INTU stock opened at $659.98 on Monday. Intuit has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a market capitalization of $184.51 billion, a P/E ratio of 64.08, a P/E/G ratio of 2.85 and a beta of 1.24. The stock has a 50 day moving average of $613.06 and a two-hundred day moving average of $620.19. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently modified their holdings of the business. Avanza Fonder AB acquired a new stake in Intuit during the 4th quarter worth $230,000. Merit Financial Group LLC lifted its stake in shares of Intuit by 53.9% in the 4th quarter. Merit Financial Group LLC now owns 3,999 shares of the software maker’s stock valued at $2,513,000 after purchasing an additional 1,400 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Intuit by 2.8% in the 4th quarter. Arkadios Wealth Advisors now owns 1,998 shares of the software maker’s stock worth $1,256,000 after purchasing an additional 55 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Intuit by 4.8% during the fourth quarter. HB Wealth Management LLC now owns 6,550 shares of the software maker’s stock worth $4,117,000 after purchasing an additional 299 shares during the period. Finally, Ameritas Advisory Services LLC grew its stake in shares of Intuit by 187.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 1,016 shares of the software maker’s stock worth $639,000 after purchasing an additional 662 shares during the period. Institutional investors and hedge funds 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.