Intuit (NASDAQ:INTU) Upgraded at JPMorgan Chase & Co.

Intuit (NASDAQ:INTU) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $660.00 target price on the software maker’s stock, up from their previous target price of $640.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.35% from the stock’s previous close.

Other analysts have also issued research reports about the company. Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Finally, Citigroup reduced their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Performance

NASDAQ INTU opened at $598.07 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $604.21 and its two-hundred day moving average is $626.30. The stock has a market capitalization of $167.20 billion, a price-to-earnings ratio of 58.07, a PEG ratio of 2.85 and a beta of 1.24. Intuit has a 12-month low of $553.24 and a 12-month high of $714.78.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 224,460 shares of company stock valued at $144,750,747 in the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new stake in Intuit during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the fourth quarter worth $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.