Intuit (NASDAQ:INTU) Price Target Cut to $642.00 by Analysts at Oppenheimer

Intuit (NASDAQ:INTU) had its price target reduced by Oppenheimer from $722.00 to $642.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Oppenheimer’s target price indicates a potential upside of 10.84% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Morgan Stanley raised 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, February 26th. Scotiabank cut their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $713.56.

Intuit Trading Up 0.3 %

Shares of INTU traded up $1.73 during mid-day trading on Friday, reaching $579.20. The company had a trading volume of 442,899 shares, compared to its average volume of 1,564,102. Intuit has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The firm has a fifty day simple moving average of $591.80 and a 200-day simple moving average of $617.88. The stock has a market cap of $161.92 billion, a price-to-earnings ratio of 56.13, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

A number of large investors have recently bought and sold shares of INTU. R Squared Ltd acquired a new stake in Intuit in the fourth quarter worth $25,000. Copia Wealth Management bought a new stake in Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC lifted its position in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. 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.