Intuit (NASDAQ:INTU) had its price objective hoisted by research analysts at Credit Suisse Group from $185.00 to $195.00 in a report released on Monday. The firm currently has an “outperform” rating on the software maker’s stock. Credit Suisse Group’s price target indicates a potential upside of 10.06% from the company’s current price.
Several other brokerages also recently commented on INTU. Bank of America upped their price target on shares of Intuit from $172.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Barclays restated an “equal weight” rating and issued a $170.00 price target (up previously from $168.00) on shares of Intuit in a research report on Friday, February 23rd. Stifel Nicolaus increased their target price on shares of Intuit from $148.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. UBS Group reiterated a “neutral” rating and issued a $177.00 target price (up previously from $170.00) on shares of Intuit in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $182.00 target price on shares of Intuit in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Intuit has an average rating of “Hold” and an average price target of $167.05.
Shares of Intuit (INTU) opened at $177.17 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $45,375.21, a P/E ratio of 48.67, a P/E/G ratio of 2.70 and a beta of 1.15. Intuit has a 12-month low of $114.80 and a 12-month high of $177.51.
In other news, Chairman Scott D. Cook sold 159,556 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $170.26, for a total transaction of $27,166,004.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 259,205 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $171.72, for a total transaction of $44,510,682.60. The disclosure for this sale can be found here. Insiders have sold a total of 728,049 shares of company stock worth $121,193,430 in the last 90 days. 5.59% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Intuit by 47.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 3,849 shares of the software maker’s stock valued at $607,000 after purchasing an additional 1,239 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Intuit by 7.0% in the 4th quarter. Xact Kapitalforvaltning AB now owns 41,170 shares of the software maker’s stock valued at $6,496,000 after buying an additional 2,706 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Intuit by 40.6% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,500 shares of the software maker’s stock valued at $2,130,000 after buying an additional 3,900 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Intuit in the 4th quarter valued at $229,000. Finally, Lake Street Advisors Group LLC acquired a new position in Intuit in the 4th quarter valued at $200,000. Institutional investors and hedge funds own 87.15% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Intuit (INTU) PT Raised to $195.00” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/03/12/intuit-intu-pt-raised-to-195-00.html.
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.
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.