Intuit (NASDAQ:INTU) Given New $775.00 Price Target at Barclays

Intuit (NASDAQ:INTU) had its target price cut by Barclays from $800.00 to $775.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Barclays‘s price target indicates a potential upside of 14.07% from the stock’s previous close.

Several other equities analysts also recently commented on INTU. Bank of America increased their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Scotiabank initiated coverage on Intuit in a report on Monday. They set a “sector perform” rating and a $700.00 price target on the stock. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $738.00.

Intuit Trading Up 4.4 %

Shares of INTU stock opened at $679.40 on Friday. 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 has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a market cap of $190.31 billion, a PE ratio of 65.01, a P/E/G ratio of 3.15 and a beta of 1.25. The stock’s fifty day moving average price is $635.12 and its two-hundred day moving average price is $631.23.

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. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. Equities analysts predict that Intuit will post 14.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. This represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Large investors have recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in shares of Intuit during the first quarter worth approximately $60,000. Bamco Inc. NY raised its holdings in Intuit by 33.9% during the first quarter. Bamco Inc. NY now owns 23,419 shares of the software maker’s stock worth $15,222,000 after buying an additional 5,928 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Intuit by 51.8% in the first quarter. Ascent Group LLC now owns 4,496 shares of the software maker’s stock valued at $2,922,000 after buying an additional 1,534 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Intuit during the first quarter valued at about $754,000. Finally, Zurich Insurance Group Ltd FI increased its position in shares of Intuit by 11.6% during the first quarter. Zurich Insurance Group Ltd FI now owns 141,023 shares of the software maker’s stock worth $91,665,000 after acquiring an additional 14,648 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

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.