Intuit (INTU) Price Target Increased to $168.00 by Analysts at Barclays

Intuit (NASDAQ:INTU) had its price objective boosted by Barclays from $157.00 to $168.00 in a research note issued to investors on Tuesday. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays’ price objective would indicate a potential upside of 5.41% from the stock’s current price.

A number of other analysts have also recently commented on the company. Morgan Stanley boosted their price objective on Intuit from $110.00 to $120.00 and gave the company an “underweight” rating in a research report on Tuesday, November 21st. Oppenheimer restated a “buy” rating and issued a $166.00 price objective (up from $159.00) on shares of Intuit in a research report on Tuesday, November 21st. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group restated a “buy” rating and issued a $185.00 price objective on shares of Intuit in a research report on Tuesday, November 21st. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $180.00 price objective (up from $163.00) on shares of Intuit in a research report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. Intuit has an average rating of “Hold” and a consensus price target of $159.42.

Intuit (INTU) traded up $2.32 during trading on Tuesday, hitting $159.38. The company had a trading volume of 1,484,900 shares, compared to its average volume of 1,234,016. 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 has a 12-month low of $114.80 and a 12-month high of $170.59. The firm has a market capitalization of $40,152.37, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.19.

Intuit (NASDAQ:INTU) last released its earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.30. The firm had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. analysts expect that Intuit will post 4.02 EPS for the current fiscal year.

In other news, insider Scott D. Cook sold 183,333 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $155.03, for a total value of $28,422,114.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark J. Flournoy sold 13,424 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $155.56, for a total value of $2,088,237.44. The disclosure for this sale can be found here. Insiders have sold 965,938 shares of company stock worth $149,469,127 in the last three months. 5.59% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of INTU. APG Asset Management N.V. raised its holdings in shares of Intuit by 102.0% in the 4th quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock valued at $215,555,000 after buying an additional 828,387 shares during the period. Jensen Investment Management Inc. purchased a new stake in Intuit during the 3rd quarter worth about $112,811,000. BlackRock Inc. increased its holdings in Intuit by 3.0% during the 4th quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock worth $2,669,740,000 after purchasing an additional 486,554 shares during the period. Atlanta Capital Management Co. L L C increased its holdings in Intuit by 142.3% during the 3rd quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock worth $71,764,000 after purchasing an additional 296,481 shares during the period. Finally, Investec Asset Management LTD increased its holdings in Intuit by 35.3% during the 3rd quarter. Investec Asset Management LTD now owns 952,772 shares of the software maker’s stock worth $135,427,000 after purchasing an additional 248,408 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.

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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.

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