Intuit (INTU) PT Raised to $310.00

Intuit (NASDAQ:INTU) had its price target upped by Guggenheim from $260.00 to $310.00 in a report released on Thursday, The Fly reports. Guggenheim’s price objective points to a potential upside of 19.42% from the company’s current price.

Other equities analysts also recently issued reports about the company. Bank of America reissued a “buy” rating and set a $264.00 target price (up from $252.00) on shares of Intuit in a research note on Wednesday, March 6th. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a report on Monday, January 21st. BidaskClub cut Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Morgan Stanley upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 price target on the stock in a report on Monday, February 4th. Finally, Credit Suisse Group restated a “hold” rating and issued a $255.00 price target on shares of Intuit in a report on Thursday, February 21st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $238.57.

Shares of INTU stock traded up $0.50 during trading hours on Thursday, reaching $259.59. 1,325,000 shares of the company’s stock were exchanged, compared to its average volume of 1,515,489. The company has a market cap of $67.07 billion, a price-to-earnings ratio of 57.30, a price-to-earnings-growth ratio of 3.02 and a beta of 1.19. Intuit has a 1 year low of $171.06 and a 1 year high of $272.14. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.44. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. During the same period in the prior year, the business posted $0.35 EPS. On average, equities analysts forecast that Intuit will post 5.3 earnings per share for the current fiscal year.

In other Intuit news, EVP Laura A. Fennell sold 67,488 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $251.43, for a total transaction of $16,968,507.84. Following the sale, the executive vice president now owns 95,102 shares in the company, valued at approximately $23,911,495.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Mark J. Flournoy sold 5,939 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $251.18, for a total value of $1,491,758.02. Following the sale, the vice president now owns 3,626 shares in the company, valued at approximately $910,778.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,609 shares of company stock worth $22,757,853. Insiders own 4.60% of the company’s stock.

Large investors have recently made changes to their positions in the business. CX Institutional grew its holdings in Intuit by 85.5% during the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock valued at $27,000 after buying an additional 47 shares during the last quarter. Athena Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter valued at $28,000. We Are One Seven LLC acquired a new stake in Intuit during the 4th quarter valued at $33,000. Berman Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter valued at $34,000. Finally, Moody National Bank Trust Division acquired a new stake in Intuit during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 87.69% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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