Jefferies Financial Group Has Lowered Expectations for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its price objective lowered by research analysts at Jefferies Financial Group from $800.00 to $735.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 22.56% from the stock’s current price.

A number of other equities research analysts also recently commented on INTU. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Mizuho boosted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Finally, Scotiabank reduced their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

Intuit Stock Up 0.1 %

NASDAQ:INTU opened at $599.70 on Monday. The company has a market cap of $167.65 billion, a price-to-earnings ratio of 58.01, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s fifty day moving average price is $595.90 and its two-hundred day moving average price is $622.23. Intuit has a 52-week low of $553.24 and a 52-week high of $714.78.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. The trade was a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuit

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit in the fourth quarter valued at approximately $621,000. Beacon Investment Advisory Services Inc. boosted its position in shares of Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after buying an additional 1,602 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after buying an additional 3,648 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after acquiring an additional 12,916 shares in 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.