Intuit (NASDAQ:INTU) had its price target increased by equities research analysts at Oppenheimer from $166.00 to $181.00 in a research note issued to investors on Monday. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price objective would indicate a potential upside of 6.97% from the company’s previous close.
A number of other research analysts also recently weighed in on INTU. Stifel Nicolaus restated a “hold” rating and issued a $132.00 price target on shares of Intuit in a research note on Friday, October 6th. Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. UBS Group initiated coverage on Intuit in a research note on Thursday, November 9th. They issued a “neutral” rating and a $152.00 price target for the company. Barclays raised their price target on Intuit from $135.00 to $157.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Finally, Royal Bank of Canada raised their price target on Intuit from $141.00 to $160.00 and gave the company a “sector perform” rating in a research note on Thursday, November 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $158.32.
Intuit (NASDAQ INTU) traded down $1.23 during trading hours on Monday, hitting $169.21. The company had a trading volume of 910,956 shares, compared to its average volume of 1,130,000. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $43,260.00, a P/E ratio of 44.76, a PEG ratio of 3.10 and a beta of 1.18. Intuit has a fifty-two week low of $111.90 and a fifty-two week high of $170.59.
In related news, EVP Henry Tayloe Stansbury sold 2,158 shares of Intuit stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 3,050 shares of the company’s stock, valued at approximately $461,617.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. Insiders have sold a total of 965,938 shares of company stock valued at $149,469,127 over the last quarter. 5.59% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Exane Derivatives acquired a new stake in Intuit during the 3rd quarter worth approximately $105,000. Horan Capital Advisors LLC. acquired a new stake in Intuit during the 3rd quarter worth approximately $114,000. ETF Managers Group LLC acquired a new stake in Intuit during the 2nd quarter worth approximately $140,000. Highstreet Asset Management Inc. acquired a new stake in Intuit during the 3rd quarter worth approximately $159,000. Finally, BB&T Investment Services Inc. acquired a new stake in Intuit during the 2nd quarter worth approximately $160,000. 86.15% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was first posted by American Banking and Market News and is owned by of American Banking and Market News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/29/oppenheimer-increases-intuit-intu-price-target-to-181-00.html.
About Intuit
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.
