Intuit (NASDAQ:INTU) Upgraded to Outperform by Evercore ISI

Intuit (NASDAQ:INTU) was upgraded by research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Tuesday, Briefing.com reports. The firm currently has a $500.00 price target on the software maker’s stock. Evercore ISI’s price target would indicate a potential upside of 24.52% from the company’s current price.

Several other analysts have also recently commented on INTU. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Intuit from $378.00 to $383.00 in a research report on Tuesday, December 22nd. Royal Bank of Canada boosted their price target on Intuit from $405.00 to $415.00 and gave the stock an “outperform” rating in a research report on Friday, November 20th. Citigroup boosted their price target on Intuit from $383.00 to $411.00 and gave the stock a “neutral” rating in a research report on Friday, February 12th. Zacks Investment Research cut Intuit from a “hold” rating to a “strong sell” rating and set a $310.00 price target for the company. in a research report on Thursday, December 10th. Finally, Wells Fargo & Company boosted their price target on Intuit from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $411.09.

Shares of NASDAQ:INTU opened at $401.55 on Tuesday. Intuit has a 12-month low of $187.68 and a 12-month high of $423.74. The company has a market capitalization of $105.51 billion, a PE ratio of 53.90, a PEG ratio of 4.29 and a beta of 0.99. The business has a 50 day moving average of $383.21 and a two-hundred day moving average of $350.92. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.39.

In other news, CFO Michelle M. Clatterbuck sold 412 shares of Intuit stock in a transaction on Monday, January 4th. The stock was sold at an average price of $379.23, for a total value of $156,242.76. Following the completion of the sale, the chief financial officer now owns 978 shares of the company’s stock, valued at $370,886.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 4,093 shares of Intuit stock in a transaction on Tuesday, December 29th. The shares were sold at an average price of $378.56, for a total value of $1,549,446.08. Over the last ninety days, insiders have sold 4,803 shares of company stock valued at $1,818,699. 3.38% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of INTU. UBS Asset Management Americas Inc. grew its position in Intuit by 48.5% during the third quarter. UBS Asset Management Americas Inc. now owns 1,779,380 shares of the software maker’s stock valued at $580,452,000 after acquiring an additional 581,028 shares during the period. Price T Rowe Associates Inc. MD grew its position in Intuit by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,561,386 shares of the software maker’s stock valued at $8,179,575,000 after acquiring an additional 557,239 shares during the period. Wells Fargo & Company MN grew its position in Intuit by 47.1% during the third quarter. Wells Fargo & Company MN now owns 1,715,738 shares of the software maker’s stock valued at $559,693,000 after acquiring an additional 549,117 shares during the period. FMR LLC grew its position in Intuit by 8.4% during the fourth quarter. FMR LLC now owns 6,773,875 shares of the software maker’s stock valued at $2,573,057,000 after acquiring an additional 527,143 shares during the period. Finally, Mawer Investment Management Ltd. grew its position in Intuit by 52.2% during the fourth quarter. Mawer Investment Management Ltd. now owns 1,223,334 shares of the software maker’s stock valued at $464,603,000 after acquiring an additional 419,560 shares during the period. 84.79% of the stock is owned by hedge funds and other institutional investors.

Intuit Company Profile

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

Featured Article: What does a neutral rating on stocks mean?

Analyst Recommendations for Intuit (NASDAQ:INTU)

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.