Mizuho Raises Intuit (NASDAQ:INTU) Price Target to $765.00

Intuit (NASDAQ:INTU) had its price objective raised by analysts at Mizuho from $750.00 to $765.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Mizuho’s price objective would indicate a potential upside of 25.41% from the stock’s previous close.

INTU has been the subject of a number of other reports. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, BMO Capital Markets dropped their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $720.50.

Intuit Price Performance

NASDAQ INTU traded down $3.83 during trading hours on Monday, reaching $610.01. 607,098 shares of the company’s stock were exchanged, compared to its average volume of 1,882,705. The firm has a fifty day moving average of $605.90 and a 200-day moving average of $627.05. Intuit has a one year low of $553.24 and a one year high of $714.78. The stock has a market cap of $170.54 billion, a PE ratio of 59.27, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several large investors have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in shares of Intuit in the fourth quarter valued at about $621,000. Harvest Portfolios Group Inc. boosted its position in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC bought a new position in shares of Intuit during the third quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit in the 3rd quarter valued at approximately $56,144,000. Institutional investors own 83.66% of the company’s stock.

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.