Jefferies Financial Group Issues Pessimistic Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its target price lowered by research analysts at Jefferies Financial Group from $800.00 to $735.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 19.75% from the company’s current price.

Several other brokerages also recently commented on INTU. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $718.00.

Intuit Trading Down 0.0 %

INTU opened at $613.78 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50 day moving average price is $596.18 and its 200-day moving average price is $621.71. Intuit has a one year low of $553.24 and a one year high of $714.78. The stock has a market cap of $171.59 billion, a price-to-earnings ratio of 59.59, a P/E/G ratio of 2.85 and a beta of 1.27.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,896 shares of company stock worth $35,689,216. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTU. Norges Bank acquired a new stake in Intuit in the fourth quarter worth about $2,290,419,000. Proficio Capital Partners LLC raised its position in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Wellington Management Group LLP grew its position in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Finally, Unisphere Establishment increased its stake in Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after purchasing an additional 500,000 shares in the last quarter. 83.66% of the stock is currently 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.