Intuit (NASDAQ:INTU) Given New $714.00 Price Target at BMO Capital Markets

Intuit (NASDAQ:INTU) had its target price decreased by analysts at BMO Capital Markets from $760.00 to $714.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ target price would suggest a potential upside of 14.31% from the stock’s current price.

INTU has been the subject of several other reports. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $725.18.

Intuit Stock Performance

INTU stock traded up $68.96 during midday trading on Wednesday, reaching $624.59. 1,510,849 shares of the company’s stock traded hands, compared to its average volume of 1,793,962. Intuit has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a 50-day moving average price of $607.70 and a two-hundred day moving average price of $627.55. 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 firm has a market capitalization of $174.83 billion, a PE ratio of 60.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the sale, the executive vice president now directly owns 33,916 shares in the company, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,014 shares of company stock valued at $140,855,687. Company insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. R Squared Ltd bought a new position in Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. 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.