Barclays Issues Pessimistic Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its price target cut by Barclays from $800.00 to $775.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Barclays‘s price objective points to a potential upside of 14.07% from the company’s current price.

A number of other analysts also recently commented on the company. BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised 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. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $738.00.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $679.40 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $190.31 billion, a PE ratio of 65.01, a price-to-earnings-growth ratio of 3.15 and a beta of 1.25. The stock’s fifty day simple moving average is $635.12 and its two-hundred day simple moving average is $631.23. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm earned $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that Intuit will post 14.05 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Several large investors have recently added to or reduced their stakes in INTU. Harvest Portfolios Group Inc. raised its holdings in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares in the last quarter. GAMMA Investing LLC raised its stake in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC bought a new stake in Intuit during the third quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit in the 3rd quarter worth approximately $56,144,000. Finally, Cetera Advisors LLC increased its holdings in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

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.