Intuit (NASDAQ:INTU) Price Target Lowered to $540.00 at Barclays

Intuit (NASDAQ:INTU) had its price objective decreased by research analysts at Barclays from $785.00 to $540.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Barclays‘s price target suggests a potential upside of 46.53% from the stock’s previous close.

INTU has been the topic of several other research reports. BNP Paribas Exane dropped their price target on shares of Intuit from $600.00 to $340.00 and set an “underperform” rating on the stock in a research note on Monday. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Truist Financial began coverage on Intuit in a report on Tuesday, January 6th. They set a “buy” rating and a $739.00 price objective on the stock. Mizuho set a $675.00 price target on Intuit in a report on Thursday. Finally, Daiwa Securities Group boosted their target price on Intuit from $770.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Twenty-two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $736.59.

Intuit Trading Down 3.2%

Intuit stock opened at $368.54 on Monday. The company has a 50 day moving average price of $554.54 and a 200 day moving average price of $628.97. Intuit has a 52 week low of $375.40 and a 52 week high of $813.70. The firm has a market capitalization of $102.55 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 1.39.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 20th. The software maker reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.25. Intuit had a return on equity of 23.52% and a net margin of 21.19%.The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the business earned $2.50 EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. Research analysts forecast that Intuit will post 14.09 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 1,335 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $629.46, for a total value of $840,329.10. Following the completion of the sale, the chief financial officer directly owned 536 shares in the company, valued at $337,390.56. The trade was a 71.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott D. Cook sold 1,402 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $668.02, for a total transaction of $936,564.04. Following the transaction, the director directly owned 5,668,182 shares in the company, valued at $3,786,458,939.64. This represents a 0.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 388,464 shares of company stock worth $255,514,393 over the last ninety days. 2.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tortoise Investment Management LLC grew its holdings in shares of Intuit by 540.0% during the second quarter. Tortoise Investment Management LLC now owns 32 shares of the software maker’s stock worth $25,000 after purchasing an additional 27 shares during the last quarter. Westside Investment Management Inc. boosted its position in Intuit by 161.5% during the 2nd quarter. Westside Investment Management Inc. now owns 34 shares of the software maker’s stock worth $27,000 after buying an additional 21 shares during the period. Sagard Holdings Management Inc. bought a new stake in Intuit during the 2nd quarter worth approximately $28,000. True Wealth Design LLC grew its holdings in Intuit by 270.0% during the 2nd quarter. True Wealth Design LLC now owns 37 shares of the software maker’s stock worth $29,000 after acquiring an additional 27 shares during the last quarter. Finally, Joseph Group Capital Management acquired a new position in Intuit in the 4th quarter valued at approximately $25,000. Institutional investors own 83.66% of the company’s stock.

About Intuit

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.