Intuit (NASDAQ:INTU) Price Target Raised to $670.00 at UBS Group

Intuit (NASDAQ:INTU) had its target price lifted by analysts at UBS Group from $625.00 to $670.00 in a research report issued on Monday, May 20th, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. UBS Group’s price target points to a potential upside of 12.37% from the company’s current price.

A number of other research firms also recently commented on INTU. Piper Sandler boosted their price target on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Evercore ISI upped their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. KeyCorp upped their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. lifted their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Four 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $679.41.

Intuit Trading Down 1.8 %

INTU stock opened at $596.25 on Monday. Intuit has a 52 week low of $400.22 and a 52 week high of $676.62. The company has a market capitalization of $166.68 billion, a PE ratio of 56.00, a price-to-earnings-growth ratio of 3.70 and a beta of 1.22. The company’s 50-day simple moving average is $634.12 and its 200 day simple moving average is $622.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) 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 firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the business posted $7.80 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit will post 11.28 earnings per share for the current year.

Insider Activity at Intuit

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

Institutional Investors Weigh In On Intuit

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC increased its stake in Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares in the last quarter. Maryland State Retirement & Pension System increased its position in shares of Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after acquiring an additional 226 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after acquiring an additional 2,074 shares during the last quarter. Hixon Zuercher LLC bought a new position in Intuit in the 4th quarter valued at about $1,292,000. Finally, Signature Wealth Management Group acquired a new position in Intuit during the 4th quarter valued at about $1,747,000. Institutional investors own 83.66% of the company’s stock.

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.