Intuit (NASDAQ:INTU) had its price objective hoisted by Argus from $175.00 to $195.00 in a research note issued on Monday. The firm presently has a “buy” rating on the software maker’s stock. Argus’ target price would suggest a potential upside of 14.47% from the stock’s previous close. The analysts noted that the move was a valuation call.
INTU has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their target price on shares of Intuit to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 4th. Deutsche Bank raised their target price on shares of Intuit from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Oppenheimer reissued a “buy” rating and issued a $166.00 target price (up previously from $159.00) on shares of Intuit in a report on Tuesday, November 21st. Citigroup lifted their price target on Intuit to $170.00 in a report on Tuesday, November 21st. Finally, Bank of America lifted their price target on Intuit from $172.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. Intuit has an average rating of “Hold” and an average target price of $166.53.
Intuit (NASDAQ INTU) opened at $170.35 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.36. Intuit has a twelve month low of $114.80 and a twelve month high of $177.51. The stock has a market cap of $43,550.00, a PE ratio of 44.83, a price-to-earnings-growth ratio of 2.68 and a beta of 1.19.
In related news, EVP Henry Tayloe Stansbury sold 2,158 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $158.94, for a total transaction of $342,992.52. Following the transaction, the executive vice president now owns 3,050 shares in the company, valued at $484,767. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $155.03, for a total transaction of $28,422,114.99. The disclosure for this sale can be found here. Insiders have sold 482,955 shares of company stock worth $76,280,269 in the last quarter. Company insiders own 5.59% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Intuit by 47.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 3,849 shares of the software maker’s stock valued at $607,000 after acquiring an additional 1,239 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Intuit by 7.0% during the fourth quarter. Xact Kapitalforvaltning AB now owns 41,170 shares of the software maker’s stock valued at $6,496,000 after acquiring an additional 2,706 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Intuit by 40.6% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,500 shares of the software maker’s stock valued at $2,130,000 after acquiring an additional 3,900 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Intuit in the fourth quarter worth approximately $229,000. Finally, Lake Street Advisors Group LLC acquired a new position in Intuit in the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 86.76% of the company’s stock.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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