Piper Sandler Cuts Intuit (NASDAQ:INTU) Price Target to $765.00

Intuit (NASDAQ:INTU) had its price target dropped by equities research analysts at Piper Sandler from $768.00 to $765.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target would suggest a potential upside of 19.51% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Finally, BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Price Performance

Shares of 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 firm has a market cap of $179.31 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The firm’s fifty day moving average is $634.81 and its 200-day moving average is $631.20.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts predict that Intuit will post 14.05 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 18.33 % 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 worth $35,220,046 in the last three months. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

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