Intuit (INTU) Price Target Raised to $163.00

Intuit (NASDAQ:INTU) had its price target increased by investment analysts at JPMorgan Chase & Co. to $163.00 in a report issued on Thursday. The firm currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 0.68% from the stock’s current price.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their price target on shares of Intuit from $141.00 to $160.00 and gave the company a “sector perform” rating in a research report on Thursday, November 16th. Citigroup raised their price target on shares of Intuit to $170.00 in a research report on Tuesday, November 21st. Raymond James Financial lowered shares of Intuit from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 27th. Oppenheimer raised their price target on shares of Intuit from $146.00 to $159.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. Intuit currently has a consensus rating of “Hold” and an average target price of $154.37.

Shares of Intuit (NASDAQ INTU) traded up $2.10 during midday trading on Thursday, hitting $164.11. 1,039,360 shares of the stock were exchanged, compared to its average volume of 1,131,769. The firm has a market capitalization of $41,954.72, a PE ratio of 43.53, a P/E/G ratio of 2.95 and a beta of 1.18. Intuit has a 52-week low of $111.90 and a 52-week high of $164.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.30. The firm had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. research analysts forecast that Intuit will post 3.95 EPS for the current year.

In other news, Chairman Scott D. Cook sold 165,689 shares of Intuit stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $151.36, for a total value of $25,078,687.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of Intuit stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.35, for a total transaction of $326,613.30. Following the completion of the transaction, the executive vice president now owns 3,050 shares of the company’s stock, valued at approximately $461,617.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 965,938 shares of company stock worth $149,469,127. Insiders own 5.59% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of INTU. Janus Henderson Group PLC increased its stake in shares of Intuit by 612.6% in the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock worth $345,589,000 after purchasing an additional 2,236,974 shares in the last quarter. Koch Industries Inc. increased its stake in shares of Intuit by 38,665.6% in the second quarter. Koch Industries Inc. now owns 1,438,591 shares of the software maker’s stock worth $1,428,000 after purchasing an additional 1,434,880 shares in the last quarter. Fundsmith LLP purchased a new position in shares of Intuit in the second quarter worth about $144,464,000. Jensen Investment Management Inc. purchased a new position in shares of Intuit in the third quarter worth about $112,811,000. Finally, BT Investment Management Ltd purchased a new position in shares of Intuit in the second quarter worth about $92,871,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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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.

Analyst Recommendations for Intuit (NASDAQ:INTU)