Intuit (NASDAQ:INTU) Given “Buy” Rating at Mizuho

Intuit (NASDAQ:INTU)‘s stock had its “buy” rating reiterated by equities researchers at Mizuho in a report released on Tuesday, Benzinga reports. They currently have a $600.00 target price on the software maker’s stock. Mizuho’s price target suggests a potential upside of 13.86% from the stock’s previous close.

INTU has been the subject of a number of other reports. Morgan Stanley lifted their price target on shares of Intuit from $520.00 to $525.00 in a research report on Wednesday, May 24th. Stifel Nicolaus boosted their price target on Intuit from $475.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Intuit from $525.00 to $575.00 and gave the company a “buy” rating in a research report on Friday, August 25th. BMO Capital Markets boosted their target price on Intuit from $560.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 7th. Finally, BNP Paribas upgraded Intuit from an “underperform” rating to a “neutral” rating and set a $532.00 price target for the company in a report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $551.73.

Intuit Stock Down 1.5 %

Intuit stock traded down $8.05 during trading hours on Tuesday, hitting $526.96. 181,321 shares of the stock traded hands, compared to its average volume of 1,605,633. Intuit has a one year low of $352.63 and a one year high of $558.64. The firm’s 50-day moving average price is $509.54 and its two-hundred day moving average price is $460.33. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. The company has a market cap of $147.71 billion, a PE ratio of 62.38, a PEG ratio of 3.26 and a beta of 1.19.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.22. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.64 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. On average, research analysts forecast that Intuit will post 11.25 EPS for the current year.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 550 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $549.42, for a total transaction of $302,181.00. Following the completion of the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at $1,128,508.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Lauren D. Hotz sold 550 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $549.42, for a total transaction of $302,181.00. Following the completion of the sale, the chief accounting officer now owns 2,054 shares of the company’s stock, valued at approximately $1,128,508.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,206 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $548.64, for a total value of $661,659.84. Following the completion of the sale, the chief financial officer now owns 1,572 shares of the company’s stock, valued at $862,462.08. The disclosure for this sale can be found here. Insiders have sold 90,927 shares of company stock worth $44,218,147 in the last quarter. Company insiders own 3.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INTU. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Intuit by 99,673.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 157,291,233 shares of the software maker’s stock worth $72,069,270,000 after acquiring an additional 157,133,584 shares during the last quarter. Norges Bank bought a new position in shares of Intuit during the 4th quarter valued at about $1,173,468,000. Moneta Group Investment Advisors LLC grew its position in shares of Intuit by 118,345.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after purchasing an additional 2,086,431 shares in the last quarter. Morgan Stanley increased its holdings in shares of Intuit by 42.5% in the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after purchasing an additional 1,027,752 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in shares of Intuit in the second quarter worth about $356,137,000. 82.63% of the stock is currently owned by institutional investors.

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.