Intuit (NASDAQ:INTU) Given New $725.00 Price Target at Stifel Nicolaus

Intuit (NASDAQ:INTU) had its price target reduced by Stifel Nicolaus from $795.00 to $725.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other research analysts have also recently commented on the company. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Piper Sandler dropped their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday. Bank of America lifted their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Price Performance

INTU opened at $640.12 on Friday. Intuit has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a 50-day moving average of $634.81 and a 200 day moving average of $631.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $179.31 billion, a P/E ratio of 62.15, a PEG 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 for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, research analysts expect that Intuit will post 14.05 EPS for the current year.

Insider Buying and Selling at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock worth $35,200,125 over the last three months. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

Large investors have recently modified their holdings of the company. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the last quarter. GAMMA Investing LLC raised its position in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the period. Retireful LLC bought a new stake in Intuit in the third quarter worth $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit during the third quarter valued at about $56,144,000. Finally, Cetera Advisors LLC grew its stake in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after buying an additional 2,655 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.