Piper Sandler Lowers Intuit (NASDAQ:INTU) Price Target to $765.00

Intuit (NASDAQ:INTU) had its target price lowered by Piper Sandler from $768.00 to $765.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other equities analysts also recently issued reports on INTU. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 5.7 %

Shares of Intuit stock opened at $640.12 on Friday. Intuit has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a 50-day moving average price of $634.81 and a 200 day moving average price of $631.19. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $179.31 billion, a P/E ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm posted $1.14 EPS. The company’s revenue was up 10.2% on a year-over-year basis. As a group, analysts expect that Intuit will post 14.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % 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. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

A number of large investors have recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the 2nd quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit during the second quarter worth $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.