Intuit (NASDAQ:INTU) PT Lowered to $740.00 at Barclays

Intuit (NASDAQ:INTU) had its price target cut by Barclays from $745.00 to $740.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

INTU has been the subject of a number of other research reports. Morgan Stanley lowered shares of Intuit from an overweight rating to an equal weight rating and decreased their price target for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. KeyCorp upped their target price on shares of Intuit from $720.00 to $740.00 and gave the stock an overweight rating in a research note on Monday, May 20th. JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a neutral rating in a research note on Friday. Erste Group Bank reiterated a hold rating on shares of Intuit in a research note on Friday, June 14th. Finally, StockNews.com upgraded shares of Intuit from a hold rating to a buy rating in a research note on Monday, May 27th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $703.27.

Intuit Stock Performance

Shares of INTU stock opened at $619.85 on Friday. The firm has a market capitalization of $173.28 billion, a PE ratio of 57.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The firm has a fifty day simple moving average of $639.27 and a two-hundred day simple moving average of $634.44. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.80 EPS. Analysts forecast that Intuit will post 11.72 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intuit news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock valued at $114,442,445 over the last three months. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently modified their holdings of the company. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit in the fourth quarter worth about $25,000. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit in the second quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the second quarter worth about $26,000. Finally, West Branch Capital LLC lifted its holdings in shares of Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after buying an additional 19 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.