Intuit (NASDAQ:INTU) Price Target Raised to $800.00 at Barclays

Intuit (NASDAQ:INTU) had its price target hoisted by Barclays from $740.00 to $800.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $737.06.

Intuit Stock Down 1.3 %

Shares of NASDAQ INTU opened at $678.81 on Friday. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78. The firm’s 50-day simple moving average is $634.11 and its 200 day simple moving average is $630.65. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $190.26 billion, a price-to-earnings ratio of 64.96, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 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 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. On average, research analysts expect that Intuit will post 14.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 36.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. LGT Financial Advisors LLC purchased a new stake in Intuit during the second quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the 2nd quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit in the second quarter worth approximately $35,000. 83.66% of the stock is currently owned by institutional investors.

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.