Intuit (INTU) Price Target Raised to $190.00
Intuit (NASDAQ:INTU) had its target price raised by research analysts at Deutsche Bank from $180.00 to $190.00 in a research note issued on Monday. The firm presently has a “buy” rating on the software maker’s stock. Deutsche Bank’s price target points to a potential upside of 20.97% from the stock’s previous close.
A number of other research firms also recently commented on INTU. Citigroup restated a “hold” rating and issued a $170.00 price objective (up previously from $157.00) on shares of Intuit in a report on Monday, January 29th. Oppenheimer increased their price objective on Intuit from $166.00 to $181.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Zacks Investment Research upgraded Intuit from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Credit Suisse Group restated an “outperform” rating and issued a $185.00 price objective (up previously from $170.00) on shares of Intuit in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. increased their price objective on Intuit to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Intuit presently has an average rating of “Hold” and an average target price of $158.84.
Shares of Intuit (NASDAQ INTU) traded up $4.31 on Monday, hitting $157.06. The stock had a trading volume of 2,175,600 shares, compared to its average volume of 1,223,701. Intuit has a one year low of $114.80 and a one year high of $170.59. The firm has a market cap of $40,152.37, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 2.83 and a beta of 1.19. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.35.
In other Intuit news, CEO Brad D. Smith sold 110,496 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total transaction of $16,729,094.40. Following the transaction, the chief executive officer now owns 399,246 shares in the company, valued at $60,445,844.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 3,050 shares of the company’s stock, valued at $461,617.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 965,938 shares of company stock worth $149,469,127. Corporate insiders own 5.59% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Exane Derivatives bought a new stake in shares of Intuit in the third quarter valued at approximately $105,000. Horan Capital Advisors LLC. bought a new stake in shares of Intuit in the third quarter valued at approximately $114,000. SeaCrest Wealth Management LLC bought a new stake in shares of Intuit in the fourth quarter valued at approximately $170,000. Highstreet Asset Management Inc. bought a new stake in shares of Intuit in the third quarter valued at approximately $159,000. Finally, Trellis Advisors LLC bought a new stake in shares of Intuit in the fourth quarter valued at approximately $201,000. 86.37% of the stock is owned by institutional investors.
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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