Intuit (NASDAQ:INTU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Intuit (NASDAQ:INTU) had its price target raised by equities researchers at JPMorgan Chase & Co. from $600.00 to $640.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 0.02% from the stock’s current price.

Several other research analysts have also recently issued reports on INTU. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Price Performance

INTU stock opened at $640.12 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $179.31 billion, a P/E ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25. The firm’s fifty day moving average is $634.81 and its 200 day moving average is $631.20. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. Research analysts predict that Intuit will post 14.05 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares in the company, valued at $12,575.20. This represents a 99.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last three months. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently modified their holdings of the stock. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit in the 2nd quarter worth approximately $35,000. 83.66% of the stock is currently 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.