Intuit (NASDAQ:INTU) Earns Overweight Rating from Piper Sandler

Intuit (NASDAQ:INTU)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a report released on Wednesday,Benzinga reports. They currently have a $785.00 price target on the software maker’s stock, up from their previous price target of $765.00. Piper Sandler’s price target would suggest a potential upside of 30.74% from the company’s current price.

Other equities analysts have also issued research reports about the company. Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $717.88.

Intuit Price Performance

Shares of NASDAQ INTU opened at $600.42 on Wednesday. The firm has a market cap of $168.07 billion, a P/E ratio of 58.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 1-year low of $553.24 and a 1-year high of $714.78. The business’s 50 day moving average is $606.49 and its 200-day moving average is $627.35.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock valued at $140,855,687 in the last 90 days. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB lifted its holdings in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new position in Intuit during the 4th quarter worth about $621,000. Harvest Portfolios Group Inc. lifted its holdings in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC acquired a new position in Intuit during the 3rd quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Intuit during the 3rd quarter worth about $56,144,000. 83.66% of the stock is owned by institutional investors and hedge funds.

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.