Intuit (NASDAQ:INTU) Price Target Cut to $726.00 by Analysts at Citigroup

Intuit (NASDAQ:INTU) had its price target decreased by Citigroup from $760.00 to $726.00 in a research report released on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the software maker’s stock.

INTU has been the topic of several other research reports. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday. Finally, BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $723.76.

Intuit Stock Performance

INTU opened at $625.51 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $175.09 billion, a price-to-earnings ratio of 60.73, a PEG ratio of 2.85 and a beta of 1.24. The company’s 50 day moving average is $607.22 and its 200 day moving average is $627.53. Intuit has a 12-month low of $553.24 and a 12-month high of $714.78.

Insider Activity

In other news, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTU. Integrated Advisors Network LLC boosted its holdings in shares of Intuit by 9.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock valued at $879,000 after buying an additional 124 shares in the last quarter. Strategic Blueprint LLC boosted its holdings in shares of Intuit by 1.9% in the 3rd quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after buying an additional 22 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of Intuit by 9.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock valued at $899,000 after buying an additional 126 shares in the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of Intuit by 3.2% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,137 shares of the software maker’s stock valued at $706,000 after buying an additional 35 shares in the last quarter. Finally, Mutual Advisors LLC boosted its holdings in shares of Intuit by 21.5% in the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock valued at $1,625,000 after buying an additional 476 shares in the last quarter. 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.