Jefferies Financial Group Issues Positive Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its price target boosted by analysts at Jefferies Financial Group from $790.00 to $800.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s target price points to a potential upside of 23.32% from the company’s previous close.

A number of other research firms have also weighed in on INTU. BMO Capital Markets upped their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $29.99 during midday trading on Friday, hitting $648.71. The company’s stock had a trading volume of 1,510,263 shares, compared to its average volume of 1,349,597. The stock has a fifty day moving average price of $635.12 and a 200 day moving average price of $631.23. Intuit has a one year low of $557.29 and a one year high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $181.72 billion, a price-to-earnings ratio of 62.18, a P/E/G ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, research analysts forecast that Intuit will post 14.05 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC raised its stake in Intuit by 6.6% during the 3rd quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker’s stock worth $1,500,000 after acquiring an additional 150 shares during the period. Virtu Financial LLC bought a new stake in Intuit during the 3rd quarter worth approximately $7,506,000. Invst LLC bought a new stake in shares of Intuit during the third quarter valued at approximately $203,000. Unigestion Holding SA bought a new stake in shares of Intuit during the third quarter valued at approximately $1,136,000. Finally, Soltis Investment Advisors LLC raised its position in shares of Intuit by 13.8% during the third quarter. Soltis Investment Advisors LLC now owns 428 shares of the software maker’s stock valued at $266,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.