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

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

Several other research analysts also recently issued reports on the company. Barclays lifted their price target on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

Shares of NASDAQ INTU opened at $640.12 on Friday. The firm has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. Intuit has a one year low of $557.29 and a one year high of $714.78. The company’s fifty day moving average is $634.81 and its two-hundred day moving average is $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.

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

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. raised its position 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 valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC acquired a new position in shares of Intuit in the 3rd quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuit in the 3rd quarter valued at approximately $56,144,000. Finally, Cetera Advisors LLC raised its position in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Hedge funds and other 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.