The Goldman Sachs Group Cuts Intuit (NASDAQ:INTU) Price Target to $615.00

Intuit (NASDAQ:INTU – Get Rating) had its price objective cut by The Goldman Sachs Group from $715.00 to $615.00 in a report published on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the software maker’s stock.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Intuit from $775.00 to $725.00 and set an overweight rating on the stock in a research note on Thursday, February 17th. Mizuho cut their target price on shares of Intuit from $730.00 to $650.00 and set a buy rating on the stock in a research note on Thursday, February 3rd. Stifel Nicolaus cut their target price on shares of Intuit from $600.00 to $580.00 and set a buy rating on the stock in a research note on Monday, March 21st. Wolfe Research cut their target price on shares of Intuit from $790.00 to $600.00 and set an outperform rating on the stock in a research note on Friday, February 25th. Finally, Piper Sandler cut their target price on shares of Intuit from $770.00 to $674.00 and set an overweight rating on the stock in a research note on Friday, February 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of Buy and a consensus price target of $618.45.

Intuit stock opened at $465.11 on Thursday. The company’s 50 day simple moving average is $483.61 and its 200-day simple moving average is $559.31. The company has a market capitalization of $131.54 billion, a price-to-earnings ratio of 59.33, a price-to-earnings-growth ratio of 3.75 and a beta of 1.12. Intuit has a 1 year low of $385.66 and a 1 year high of $716.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18.

Intuit (NASDAQ:INTU – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The software maker reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.26). The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Intuit had a net margin of 19.03% and a return on equity of 20.37%. Intuit’s revenue was up 69.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. Equities analysts expect that Intuit will post 8.14 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 18th. Stockholders of record on Monday, April 11th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, April 8th. Intuit’s payout ratio is currently 34.69%.

In other Intuit news, EVP James Alexander Chriss sold 368 shares of Intuit stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $478.84, for a total value of $176,213.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 59,286 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total value of $28,162,628.58. The disclosure for this sale can be found here. Insiders own 3.27% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. JNBA Financial Advisors acquired a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Castleview Partners LLC acquired a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Mascoma Wealth Management LLC increased its holdings in shares of Intuit by 3,900.0% in the fourth quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock valued at $26,000 after purchasing an additional 39 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in shares of Intuit in the fourth quarter valued at approximately $26,000. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Intuit by 66.7% in the third quarter. Princeton Global Asset Management LLC now owns 50 shares of the software maker’s stock valued at $27,000 after purchasing an additional 20 shares during the period. 81.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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