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

Intuit (NASDAQ:INTU) had its price objective decreased by Barclays from $800.00 to $775.00 in a report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. Piper Sandler decreased 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. JPMorgan Chase & Co. boosted 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. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Morgan Stanley boosted their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. 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.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Trading Down 5.7 %

Shares of INTU stock opened at $640.12 on Friday. Intuit has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a market cap of $179.31 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $634.81 and its two-hundred day moving average is $631.27.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. Equities analysts predict that Intuit will post 14.05 EPS for the current year.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INTU. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.