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

Intuit (NASDAQ:INTU) had its target price reduced by Barclays from $800.00 to $775.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other brokerages have also issued reports on INTU. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Performance

Shares of INTU opened at $640.12 on Friday. The company has a 50-day simple moving average of $634.81 and a two-hundred day simple moving average of $631.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization 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. Intuit has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company 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 for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. On average, analysts anticipate that Intuit will post 14.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the company’s 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 directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

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