Intuit (NASDAQ:INTU) had its price target hoisted by research analysts at Royal Bank of Canada to $240.00 in a report issued on Friday, The Fly reports. The brokerage presently has a “market perform” rating on the software maker’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 15.45% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Co set a $215.00 target price on Intuit and gave the stock an “outperform” rating in a research report on Wednesday, May 23rd. Oppenheimer boosted their target price on Intuit from $181.00 to $206.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 23rd. BidaskClub downgraded Intuit from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 27th. Guggenheim began coverage on Intuit in a research report on Tuesday, August 7th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Barclays boosted their target price on Intuit from $194.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Intuit presently has an average rating of “Hold” and an average target price of $204.22.

Shares of Intuit stock traded down $1.80 during trading hours on Friday, hitting $207.89. The company’s stock had a trading volume of 1,993,170 shares, compared to its average volume of 1,383,105. Intuit has a 12-month low of $133.60 and a 12-month high of $219.46. The company has a market capitalization of $54.14 billion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.47 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, May 22nd. The software maker reported $4.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.68 by $0.14. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.86 billion. Intuit had a return on equity of 79.36% and a net margin of 20.39%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.90 earnings per share. equities analysts expect that Intuit will post 4.45 earnings per share for the current year.

In other Intuit news, EVP Henry Tayloe Stansbury sold 3,941 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $195.50, for a total transaction of $770,465.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $209.41, for a total value of $20,941,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 321,277 shares of company stock worth $65,648,052. Company insiders own 5.59% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Fort L.P. purchased a new stake in Intuit during the second quarter valued at approximately $120,000. Qube Research & Technologies Ltd grew its stake in shares of Intuit by 160.1% during the second quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after buying an additional 373 shares during the last quarter. Sun Life Financial INC grew its stake in shares of Intuit by 243.8% during the second quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock valued at $135,000 after buying an additional 468 shares during the last quarter. Massey Quick Simon & CO. LLC grew its stake in shares of Intuit by 100.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 750 shares of the software maker’s stock valued at $130,000 after buying an additional 375 shares during the last quarter. Finally, NewSquare Capital LLC bought a new position in shares of Intuit during the second quarter valued at approximately $185,000. Institutional investors and hedge funds own 87.11% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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