Stifel Nicolaus Lowers Intuit (NASDAQ:INTU) Price Target to $725.00

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

A number of other equities analysts also recently issued reports on INTU. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler dropped their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $640.12 on Friday. 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 price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The business has a 50-day simple moving average of $634.81 and a two-hundred day simple moving average of $631.27. Intuit has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.14 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Intuit will post 14.05 earnings per share for the current year.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Institutional investors have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. grew its position in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC grew its holdings in Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares in the last quarter. Retireful LLC bought a new stake in Intuit in the 3rd quarter worth approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $56,144,000. Finally, Cetera Advisors LLC boosted its position in shares of Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares during the last quarter. 83.66% of the stock is 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.