KeyCorp Reiterates Overweight Rating for Intuit (NASDAQ:INTU)

Intuit (NASDAQ:INTU)‘s stock had its “overweight” rating reiterated by equities researchers at KeyCorp in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $850.00 target price on the software maker’s stock, up from their previous target price of $770.00. KeyCorp’s price objective suggests a potential upside of 18.03% from the company’s previous close.

Several other research analysts have also commented on the company. Barclays boosted their price target on Intuit from $775.00 to $815.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Jefferies Financial Group boosted their target price on Intuit from $735.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $785.33.

Intuit Trading Up 8.1%

INTU opened at $720.13 on Friday. The firm has a market cap of $201.32 billion, a price-to-earnings ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 12 month low of $532.65 and a 12 month high of $734.18. The stock has a fifty day moving average price of $616.76 and a 200-day moving average price of $620.65.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $9.88 EPS. As a group, equities research analysts anticipate that Intuit will post 14.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by insiders.

Institutional Trading of Intuit

A number of hedge funds have recently modified their holdings of the stock. Peloton Wealth Strategists boosted its stake in shares of Intuit by 0.3% in the first quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker’s stock worth $2,710,000 after buying an additional 15 shares during the last quarter. Decatur Capital Management Inc. raised its holdings in Intuit by 0.3% in the 1st quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker’s stock worth $3,069,000 after purchasing an additional 16 shares during the period. True North Advisors LLC raised its holdings in Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares during the period. Great Diamond Partners LLC raised its holdings in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares during the period. Finally, Drive Wealth Management LLC raised its holdings in Intuit by 2.4% in the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker’s stock worth $478,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.