Intuit Inc. (INTU) PT Raised to $159.00
Intuit Inc. (NASDAQ:INTU) had its price target raised by analysts at Oppenheimer Holdings, Inc. from $146.00 to $159.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the software maker’s stock. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 3.61% from the company’s current price.
Several other equities analysts also recently issued reports on INTU. BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. First Analysis upgraded shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective on the stock in a report on Wednesday, August 23rd. Credit Suisse Group restated an “outperform” rating and set a $155.00 price objective (up previously from $150.00) on shares of Intuit in a report on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and set a $150.00 price objective on shares of Intuit in a report on Wednesday, August 23rd. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $145.00 target price on shares of Intuit in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $143.42.
Shares of Intuit (NASDAQ INTU) traded up 1.41% during mid-day trading on Friday, hitting $153.46. 1,173,081 shares of the stock were exchanged. The stock has a market cap of $39.13 billion, a PE ratio of 41.25 and a beta of 1.15. Intuit has a 12 month low of $103.22 and a 12 month high of $153.86. The stock’s 50 day moving average is $144.19 and its 200-day moving average is $135.92.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts anticipate that Intuit will post $4.95 EPS for the current year.
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In other news, Chairman Scott D. Cook sold 182,037 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $135.20, for a total transaction of $24,611,402.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R Neil Williams sold 184,585 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the transaction, the chief financial officer now directly owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,084,194 shares of company stock worth $151,162,540. Insiders own 5.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in INTU. Thrivent Financial For Lutherans raised its stake in shares of Intuit by 5.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 8,940 shares of the software maker’s stock worth $1,037,000 after buying an additional 480 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Intuit by 6.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 588,299 shares of the software maker’s stock worth $68,234,000 after buying an additional 34,496 shares during the period. Renaissance Technologies LLC raised its stake in shares of Intuit by 249.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,296,148 shares of the software maker’s stock worth $150,340,000 after buying an additional 924,900 shares during the period. BlackRock Inc. raised its stake in shares of Intuit by 1,542.9% during the 1st quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after buying an additional 16,306,976 shares during the period. Finally, KCG Holdings Inc. raised its stake in shares of Intuit by 334.6% during the 1st quarter. KCG Holdings Inc. now owns 74,138 shares of the software maker’s stock worth $8,599,000 after buying an additional 57,079 shares during the period. 85.93% of the stock is owned by institutional investors and hedge funds.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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