Intuit (NASDAQ:INTU) Price Target Cut to $765.00 by Analysts at Piper Sandler

Intuit (NASDAQ:INTU) had its target price lowered by Piper Sandler from $768.00 to $765.00 in a report issued on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the software maker’s stock.

A number of other equities research analysts also recently commented on INTU. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $640.12 on Friday. The stock has a fifty day moving average price of $634.81 and a two-hundred day moving average price of $631.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $179.31 billion, a P/E ratio of 61.26, a PEG ratio of 3.15 and a beta of 1.25. Intuit has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts forecast that Intuit will post 14.05 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of institutional investors have recently made changes to their positions in the business. Brown Financial Advisors increased its stake in shares of Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Fortitude Family Office LLC increased its stake in shares of Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co increased its stake in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC increased its stake in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the period. Finally, Truvestments Capital LLC increased its stake in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the period. 83.66% of the stock is currently owned by 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.