Intuit Inc. (INTU) Price Target Increased to $170.00 by Analysts at Citigroup Inc.
Intuit Inc. (NASDAQ:INTU) had its price objective upped by stock analysts at Citigroup Inc. to $170.00 in a research note issued to investors on Tuesday, The Fly reports. Citigroup Inc.’s target price points to a potential upside of 7.74% from the company’s previous close.
Several other equities analysts have also recently commented on INTU. Barclays PLC lifted their target price on shares of Intuit from $135.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price on the stock in a research report on Wednesday, August 23rd. Jefferies Group LLC reissued a “buy” rating and set a $185.00 target price on shares of Intuit in a research report on Tuesday. William Blair assumed coverage on shares of Intuit in a research report on Tuesday, September 19th. They set an “outperform” rating on the stock. Finally, UBS AG cut shares of Intuit to an “underperform” rating in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $152.89.
Shares of Intuit (NASDAQ:INTU) traded up $1.23 during midday trading on Tuesday, reaching $157.78. 1,870,600 shares of the company traded hands, compared to its average volume of 1,475,816. Intuit has a twelve month low of $111.48 and a twelve month high of $158.90. The company has a market cap of $40,180.00, a PE ratio of 41.53, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 0.73.
In related news, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $142.31, for a total value of $265,835.08. Following the completion of the transaction, the vice president now directly owns 1,713 shares in the company, valued at approximately $243,777.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $141.16, for a total transaction of $25,879,286.28. The disclosure for this sale can be found here. Insiders sold a total of 1,084,194 shares of company stock valued at $151,162,540 over the last quarter. 5.70% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Intuit by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock valued at $2,233,621,000 after buying an additional 444,676 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Intuit by 7.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock valued at $634,903,000 after buying an additional 347,159 shares in the last quarter. Janus Henderson Group PLC grew its stake in Intuit by 612.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after buying an additional 2,236,974 shares in the last quarter. Royal Bank of Canada grew its position in shares of Intuit by 19.0% during the 2nd quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock valued at $333,124,000 after purchasing an additional 400,406 shares in the last quarter. Finally, Lindsell Train Ltd grew its position in shares of Intuit by 7.3% during the 3rd quarter. Lindsell Train Ltd now owns 2,369,800 shares of the software maker’s stock valued at $336,843,000 after purchasing an additional 162,000 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.
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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