Intuit (NASDAQ:INTU) Price Target Increased to $740.00 by Analysts at KeyCorp

Intuit (NASDAQ:INTU) had its target price increased by analysts at KeyCorp from $720.00 to $740.00 in a research report issued on Monday, May 20th, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective would suggest a potential upside of 24.11% from the stock’s current price.

INTU has been the topic of several other reports. BMO Capital Markets reissued an “outperform” rating and set a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Oppenheimer upped their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Susquehanna lifted their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company increased their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $679.41.

Intuit Trading Down 1.8 %

NASDAQ:INTU opened at $596.25 on Monday. The firm has a market capitalization of $166.68 billion, a P/E ratio of 56.00, a P/E/G ratio of 3.70 and a beta of 1.22. Intuit has a 52 week low of $400.22 and a 52 week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $634.12 and a 200 day moving average of $622.77.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the business posted $7.80 earnings per share. Intuit’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts predict that Intuit will post 11.28 earnings per share for the current year.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INTU. NewSquare Capital LLC purchased a new position in Intuit in the 3rd quarter worth about $25,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Intuit in the fourth quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new position in shares of Intuit during the third quarter valued at approximately $26,000. West Branch Capital LLC boosted its holdings in Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. Finally, MCF Advisors LLC grew its position in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. 83.66% of the stock is 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.