Intuit (NASDAQ:INTU) Price Target Cut to $467.00

Intuit (NASDAQ:INTUGet Rating) had its price objective reduced by investment analysts at BMO Capital Markets from $533.00 to $467.00 in a report issued on Monday, The Fly reports. The firm presently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price target would suggest a potential upside of 19.06% from the stock’s current price.

INTU has been the subject of several other reports. StockNews.com began coverage on shares of Intuit in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Barclays dropped their price objective on shares of Intuit from $502.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, November 18th. Stifel Nicolaus dropped their price objective on shares of Intuit from $525.00 to $475.00 and set a “buy” rating for the company in a research note on Friday, September 30th. Piper Sandler lifted their price objective on shares of Intuit from $500.00 to $553.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Intuit from $525.00 to $560.00 in a research report on Wednesday, August 24th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.11.

Intuit Price Performance

NASDAQ INTU opened at $392.23 on Monday. Intuit has a 12 month low of $339.36 and a 12 month high of $697.27. The stock has a market cap of $110.56 billion, a price-to-earnings ratio of 54.10, a PEG ratio of 2.66 and a beta of 1.19. The company’s 50 day moving average is $400.58 and its two-hundred day moving average is $409.89. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39.

Intuit (NASDAQ:INTUGet Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The software maker reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.20. Intuit had a net margin of 16.23% and a return on equity of 16.47%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $1.28 EPS. As a group, research analysts anticipate that Intuit will post 9.07 earnings per share for the current year.

Insider Activity at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 22,250 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the completion of the transaction, the chief executive officer now directly owns 60,208 shares of the company’s stock, valued at $27,888,947.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Michelle M. Clatterbuck sold 1,791 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $462.12, for a total transaction of $827,656.92. Following the completion of the transaction, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at approximately $623,862. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the transaction, the chief executive officer now directly owns 60,208 shares of the company’s stock, valued at $27,888,947.68. The disclosure for this sale can be found here. Insiders have sold a total of 39,318 shares of company stock worth $18,027,628 over the last quarter. Insiders own 3.27% of the company’s stock.

Institutional Trading of Intuit

Several large investors have recently added to or reduced their stakes in the stock. San Luis Wealth Advisors LLC purchased a new position in shares of Intuit during the 1st quarter worth $26,000. Altshuler Shaham Ltd acquired a new position in Intuit during the 3rd quarter worth about $25,000. Atwood & Palmer Inc. lifted its stake in Intuit by 225.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 65 shares of the software maker’s stock worth $25,000 after acquiring an additional 45 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in Intuit by 81.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock worth $29,000 after acquiring an additional 34 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in Intuit by 71.7% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 79 shares of the software maker’s stock worth $30,000 after acquiring an additional 33 shares in the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Company Profile

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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 ProConnect.

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