Barclays Has Lowered Expectations for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its target price reduced by Barclays from $800.00 to $775.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

INTU has been the topic of several other reports. Jefferies Financial Group upped their target price 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 reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Piper Sandler reduced their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 5.7 %

NASDAQ:INTU opened at $640.12 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market cap of $179.31 billion, a PE ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. The stock has a 50-day simple moving average of $634.81 and a 200 day simple moving average of $631.27.

Intuit (NASDAQ:INTU) last released its 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 17.59% and a return on equity of 18.28%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Intuit will post 14.05 EPS for the current fiscal year.

Insiders Place Their Bets

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 sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the second quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.