Intuit (NASDAQ:INTU) had its price objective increased by research analysts at JPMorgan Chase & Co. to $163.00 in a research note issued to investors on Thursday, January 4th. The brokerage currently has a “neutral” rating on the software maker’s stock.
A number of other brokerages have also recently issued reports on INTU. Wells Fargo & Co raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a report on Thursday, September 21st. Raymond James Financial lowered shares of Intuit from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 27th. Zacks Investment Research lowered shares of Intuit from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. William Blair assumed coverage on shares of Intuit in a research report on Tuesday, September 19th. They set an “outperform” rating for the company. Finally, UBS Group lowered shares of Intuit to an “underperform” rating in a research report on Wednesday, September 27th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $157.53.
Intuit (INTU) traded down $0.51 during trading hours on Thursday, hitting $163.00. 813,900 shares of the company were exchanged, compared to its average volume of 1,225,912. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $41,670.00, a PE ratio of 43.12, a PEG ratio of 2.95 and a beta of 1.18. Intuit has a 52 week low of $111.90 and a 52 week high of $165.13.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million for the quarter, compared to analysts’ expectations of $855.74 million. During the same quarter in the previous year, the firm posted $0.06 EPS. Intuit’s revenue was up 13.9% on a year-over-year basis. sell-side analysts anticipate that Intuit will post 3.95 EPS for the current year.
In related news, EVP Henry Tayloe Stansbury sold 2,158 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $151.35, for a total value of $326,613.30. Following the completion of the transaction, the executive vice president now directly owns 3,050 shares of the company’s stock, valued at $461,617.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $151.46, for a total transaction of $27,767,767.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 965,938 shares of company stock valued at $149,469,127. Company insiders own 5.59% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Exane Derivatives purchased a new stake in Intuit in the third quarter worth about $105,000. Horan Capital Advisors LLC. purchased a new stake in Intuit in the third quarter worth about $114,000. Captrust Financial Advisors purchased a new stake in Intuit in the second quarter worth about $108,000. Harvest Fund Management Co. Ltd purchased a new stake in Intuit in the second quarter worth about $140,000. Finally, ETF Managers Group LLC purchased a new stake in Intuit in the second quarter worth about $140,000. 86.03% of the stock is owned by institutional investors.
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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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