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

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

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Piper Sandler lowered 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. Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets upped their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 5.7 %

INTU opened at $640.12 on Friday. The firm has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. Intuit has a one year low of $557.29 and a one year high of $714.78. The company has a fifty day moving average price of $634.81 and a 200-day moving average price of $631.20. 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 (NASDAQ:INTU) last announced its earnings results 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 return on equity of 18.28% and a net margin of 17.59%. The business 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 company earned $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect that Intuit will post 14.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In other 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 sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the 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 transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC lifted 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 valued at $1,500,000 after buying an additional 150 shares during the period. Virtu Financial LLC purchased a new position in Intuit during the 3rd quarter valued at about $7,506,000. Invst LLC bought a new stake in Intuit during the third quarter worth about $203,000. Unigestion Holding SA purchased a new stake in Intuit in the third quarter worth about $1,136,000. Finally, Soltis Investment Advisors LLC increased its stake 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 valued at $266,000 after purchasing an additional 52 shares in 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.