Intuit (NASDAQ:INTU) Price Target Cut to $520.00

Intuit (NASDAQ:INTUGet Rating) had its target price reduced by Morgan Stanley from $550.00 to $520.00 in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have an overweight rating on the software maker’s stock.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Intuit from an overweight rating to a neutral rating and set a $360.00 target price for the company. in a research note on Monday, October 3rd. Barclays cut their target price on Intuit from $502.00 to $490.00 and set an overweight rating on the stock in a research report on Friday, November 18th. Moffett Nathanson started coverage on Intuit in a report on Thursday, September 22nd. They issued an outperform rating and a $500.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target on Intuit from $525.00 to $560.00 in a report on Wednesday, August 24th. Finally, KeyCorp boosted their target price on shares of Intuit from $475.00 to $525.00 and gave the company an overweight rating in a research report on Wednesday, August 24th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has an average rating of Moderate Buy and a consensus target price of $533.11.

Intuit Price Performance

Shares of INTU opened at $392.23 on Tuesday. The business has a 50-day moving average of $400.58 and a 200-day moving average of $409.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $110.56 billion, a price-to-earnings ratio of 54.10, a price-to-earnings-growth ratio of 2.66 and a beta of 1.19. Intuit has a 1 year low of $339.36 and a 1 year high of $697.27.

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

Insider Buying and Selling

In other Intuit news, EVP James Alexander Chriss sold 1,071 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $462.09, for a total transaction of $494,898.39. Following the transaction, the executive vice president now directly owns 1,003 shares in the company, valued at approximately $463,476.27. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intuit news, CFO Michelle M. Clatterbuck sold 1,791 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $462.12, for a total value of $827,656.92. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Alexander Chriss sold 1,071 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $462.09, for a total value of $494,898.39. Following the completion of the transaction, the executive vice president now owns 1,003 shares in the company, valued at approximately $463,476.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,318 shares of company stock worth $18,027,628. 3.27% of the stock is owned by corporate insiders.

Institutional Trading of Intuit

A number of hedge funds have recently bought and sold shares of the business. Core Alternative Capital raised its stake in shares of Intuit by 20.4% during the 2nd quarter. Core Alternative Capital now owns 130 shares of the software maker’s stock worth $50,000 after purchasing an additional 22 shares during the period. Halbert Hargrove Global Advisors LLC raised its position in Intuit by 3.2% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 713 shares of the software maker’s stock worth $275,000 after acquiring an additional 22 shares during the period. Dohj LLC grew its position in shares of Intuit by 0.8% during the 2nd quarter. Dohj LLC now owns 3,205 shares of the software maker’s stock valued at $1,236,000 after acquiring an additional 25 shares during the period. WP Advisors LLC raised its holdings in shares of Intuit by 3.7% in the 3rd quarter. WP Advisors LLC now owns 706 shares of the software maker’s stock worth $273,000 after purchasing an additional 25 shares during the period. Finally, Mission Creek Capital Partners Inc. lifted its stake in Intuit by 0.4% in the third quarter. Mission Creek Capital Partners Inc. now owns 5,909 shares of the software maker’s stock valued at $2,289,000 after purchasing an additional 26 shares during the last quarter. 83.31% of the stock is currently owned by 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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Analyst Recommendations for Intuit (NASDAQ:INTU)

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