Intuit’s (INTU) Overweight Rating Reiterated at Piper Sandler

Intuit (NASDAQ:INTU)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $765.00 target price on the software maker’s stock. Piper Sandler’s price objective suggests a potential upside of 22.19% from the company’s current price.

Several other equities analysts also recently commented on INTU. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Barclays cut their target price 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, Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Price Performance

INTU stock opened at $626.05 on Friday. The business’s fifty day moving average price is $649.55 and its 200 day moving average price is $638.16. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a market capitalization of $175.24 billion, a PE ratio of 60.78, a P/E/G ratio of 3.24 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit will post 14.07 EPS for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % 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, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,636 shares of company stock worth $187,510,258. 2.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares during the period. Holocene Advisors LP increased its stake in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB raised its holdings in Intuit by 83.2% during the fourth 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 in the last quarter. Ameriprise Financial Inc. lifted its position in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares during the period. Finally, State Street Corp boosted its holdings in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. 83.66% of the stock is 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.