BMO Capital Markets Lowers Intuit (NASDAQ:INTU) Price Target to $467.00

Intuit (NASDAQ:INTUGet Rating) had its price objective lowered by BMO Capital Markets from $533.00 to $467.00 in a research note released on Monday morning, The Fly reports. The firm currently has an outperform rating on the software maker’s stock.

A number of other research firms also recently issued reports on INTU. Evercore ISI dropped their price target on Intuit from $601.00 to $505.00 in a research note on Friday, September 30th. Stifel Nicolaus reduced their price objective on Intuit from $525.00 to $475.00 and set a buy rating for the company in a report on Friday, September 30th. Oppenheimer boosted their price target on Intuit from $476.00 to $516.00 and gave the stock an outperform rating in a report on Wednesday, August 24th. Barclays cut their price target on Intuit from $502.00 to $490.00 and set an overweight rating for the company in a report on Friday, November 18th. Finally, Piper Sandler lifted their price objective on Intuit from $500.00 to $553.00 and gave the company an overweight rating in a research report on Wednesday, August 24th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of Moderate Buy and a consensus target price of $533.11.

Intuit Price Performance

INTU opened at $395.85 on Monday. The stock’s 50-day moving average price is $399.76 and its 200 day moving average price is $409.80. Intuit has a 12-month low of $339.36 and a 12-month high of $697.27. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The firm has a market cap of $111.58 billion, a price-to-earnings ratio of 54.60, a PEG ratio of 2.75 and a beta of 1.19.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings results on Tuesday, August 23rd. The software maker reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.20. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.35 billion. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same quarter last year, the company earned $1.28 EPS. As a group, sell-side analysts expect that Intuit will post 9.07 earnings per share for the current year.

Insider Activity

In related news, CFO Michelle M. Clatterbuck sold 6,768 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $450.00, for a total value of $3,045,600.00. Following the completion of the sale, the chief financial officer now owns 1,350 shares in the company, valued at $607,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intuit news, CFO Michelle M. Clatterbuck sold 6,768 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the completion of the transaction, the chief financial officer now owns 1,350 shares in the company, valued at $607,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Varun Krishna sold 7,438 shares of Intuit stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $450.80, for a total transaction of $3,353,050.40. The disclosure for this sale can be found here. 3.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Intuit by 3.7% in the 1st quarter. BlackRock Inc. now owns 26,048,746 shares of the software maker’s stock valued at $12,525,279,000 after acquiring an additional 919,626 shares in the last quarter. Vanguard Group Inc. grew its stake in Intuit by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 24,634,094 shares of the software maker’s stock valued at $9,541,277,000 after buying an additional 281,362 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Intuit by 3.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,749,565 shares of the software maker’s stock valued at $6,841,392,000 after buying an additional 575,174 shares during the last quarter. State Street Corp grew its stake in Intuit by 1.8% in the 1st quarter. State Street Corp now owns 11,739,798 shares of the software maker’s stock valued at $5,644,964,000 after buying an additional 210,562 shares during the last quarter. Finally, Bishop Rock Capital L.P. grew its position in shares of Intuit by 27,658.9% during the 2nd quarter. Bishop Rock Capital L.P. now owns 4,562,453 shares of the software maker’s stock worth $11,837,000 after purchasing an additional 4,546,017 shares in the last quarter. 83.31% of the stock is owned by institutional investors.

Intuit Company Profile

(Get Rating)

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 ProConnect.

See Also

The Fly logo

Analyst Recommendations for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.