Barclays Lowers Intuit (NASDAQ:INTU) Price Target to $775.00

Intuit (NASDAQ:INTU) had its price target cut by Barclays from $800.00 to $775.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Barclays‘s target price indicates a potential upside of 21.07% from the stock’s previous close.

Several other analysts also recently commented on INTU. Piper Sandler reduced their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Stifel Nicolaus raised their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

INTU stock opened at $640.12 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $179.31 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. The company’s fifty day simple moving average is $634.81 and its 200 day simple moving average is $631.20. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the business earned $1.14 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Intuit will post 14.05 earnings per share for the current year.

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 18.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuit

Several large investors have recently added to or reduced their stakes in INTU. Anchor Investment Management LLC boosted its position in Intuit by 6.6% during the third quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker’s stock worth $1,500,000 after purchasing an additional 150 shares during the period. Virtu Financial LLC bought a new position in Intuit in the 3rd quarter worth approximately $7,506,000. Invst LLC purchased a new position in Intuit in the 3rd quarter valued at approximately $203,000. Unigestion Holding SA bought a new stake in Intuit during the 3rd quarter valued at $1,136,000. Finally, Soltis Investment Advisors LLC lifted its position in shares of Intuit by 13.8% during the third quarter. Soltis Investment Advisors LLC now owns 428 shares of the software maker’s stock worth $266,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.