Intuit (NASDAQ:INTU) Price Target Cut to $725.00 by Analysts at Stifel Nicolaus

Intuit (NASDAQ:INTU) had its target price lowered by Stifel Nicolaus from $795.00 to $725.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

INTU has been the topic of a number of other reports. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reduced their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. BMO Capital Markets increased their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Barclays decreased 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. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

NASDAQ:INTU opened at $640.12 on Friday. The company has a market capitalization 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 business has a 50 day moving average of $634.81 and a 200 day moving average of $631.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. 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 earnings per share 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 18.28%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $1.14 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Intuit will post 14.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated 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 trade represents a 18.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Several large investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new position in shares of Intuit during the first quarter valued at $60,000. Bamco Inc. NY increased its stake in Intuit by 33.9% during the 1st quarter. Bamco Inc. NY now owns 23,419 shares of the software maker’s stock valued at $15,222,000 after purchasing an additional 5,928 shares in the last quarter. Ascent Group LLC raised its holdings in Intuit by 51.8% in the first quarter. Ascent Group LLC now owns 4,496 shares of the software maker’s stock worth $2,922,000 after buying an additional 1,534 shares during the last quarter. Caxton Associates LP bought a new position in shares of Intuit in the first quarter worth approximately $754,000. Finally, Zurich Insurance Group Ltd FI grew its holdings in shares of Intuit by 11.6% during the first quarter. Zurich Insurance Group Ltd FI now owns 141,023 shares of the software maker’s stock valued at $91,665,000 after buying an additional 14,648 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.