Stifel Nicolaus Cuts Intuit (NASDAQ:INTU) Price Target to $725.00

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

INTU has been the subject of a number of other research reports. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Piper Sandler lowered their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday. BMO Capital Markets boosted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 5.7 %

Shares of INTU opened at $640.12 on Friday. The firm has a market cap of $179.31 billion, a P/E ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. 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 52 week low of $557.29 and a 52 week high of $714.78. The firm’s 50-day simple moving average is $634.81 and its 200 day simple moving average is $631.19.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for 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 firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, analysts forecast that Intuit will post 14.05 earnings per share for the current year.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. 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 firm’s stock in a transaction on 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 directly owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by insiders.

Institutional Trading of Intuit

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit in the second quarter worth approximately $35,000. 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.