Intuit’s (INTU) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Intuit (NASDAQ:INTU) in a research report released on Wednesday,Benzinga reports. The firm currently has a $785.00 price target on the software maker’s stock, up from their previous price target of $765.00.

Several other analysts have also commented on the company. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $723.76.

Intuit Trading Up 12.6 %

NASDAQ:INTU opened at $625.51 on Wednesday. The company has a market cap of $175.09 billion, a PE ratio of 60.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 50 day simple moving average of $607.22 and a two-hundred day simple moving average of $627.53. Intuit has a 12 month low of $553.24 and a 12 month high of $714.78.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. boosted its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the last quarter. Retireful LLC purchased a new position in shares of Intuit in the third quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit in the third quarter worth $56,144,000. Institutional investors own 83.66% of the company’s stock.

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.