Intuit (NASDAQ:INTU) Price Target Lowered to $714.00 at BMO Capital Markets

Intuit (NASDAQ:INTU) had its target price cut by investment analysts at BMO Capital Markets from $760.00 to $714.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price target would indicate a potential upside of 14.31% from the stock’s previous close.

Several other equities analysts have also recently commented on INTU. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $725.18.

Intuit Price Performance

Shares of INTU traded up $68.96 during trading hours on Wednesday, hitting $624.59. 1,510,849 shares of the company were exchanged, compared to its average volume of 1,793,962. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a market cap of $174.83 billion, a price-to-earnings ratio of 60.53, a P/E/G ratio of 2.85 and a beta of 1.24. The firm’s fifty day moving average is $607.70 and its 200 day moving average is $627.55.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuit

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd purchased a new position in Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. 83.66% of the stock is 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.