Wells Fargo & Company Reaffirms Overweight Rating for Intuit (NASDAQ:INTU)

Intuit (NASDAQ:INTU)‘s stock had its “overweight” rating reissued by equities research analysts at Wells Fargo & Company in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $825.00 price objective on the software maker’s stock, up from their prior price objective of $775.00. Wells Fargo & Company‘s price objective points to a potential upside of 14.56% from the company’s current price.

Several other research analysts have also commented on INTU. Oppenheimer cut their price objective on Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. KeyCorp reaffirmed an “overweight” rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a report on Friday. Citigroup boosted their price objective on shares of Intuit from $726.00 to $789.00 and gave the stock a “buy” rating in a report on Friday. Finally, Stifel Nicolaus raised their target price on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $785.33.

Intuit Stock Up 8.1%

Shares of NASDAQ INTU opened at $720.13 on Friday. The stock has a market capitalization of $201.32 billion, a PE ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average of $616.76 and a 200-day moving average of $620.65. Intuit has a 52-week low of $532.65 and a 52-week high of $734.18.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.88 earnings per share. On average, analysts anticipate that Intuit will post 14.09 EPS for the current year.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 in the last 90 days. 2.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Several large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at about $25,000. Copia Wealth Management acquired a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the fourth quarter worth approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

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.