Intuit (NASDAQ:INTU – Get Rating) had its price target lowered by stock analysts at Wells Fargo & Company from $635.00 to $550.00 in a report issued on Wednesday, The Fly reports. Wells Fargo & Company‘s price target indicates a potential upside of 53.22% from the company’s previous close.
A number of other equities research analysts have also recently commented on the company. Barclays lowered their target price on Intuit from $585.00 to $480.00 and set an “overweight” rating on the stock in a report on Friday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of Intuit from $750.00 to $640.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. Credit Suisse Group cut their price target on Intuit from $600.00 to $500.00 in a report on Wednesday. Piper Sandler decreased their price objective on Intuit from $674.00 to $500.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Oppenheimer cut their price objective on shares of Intuit from $696.00 to $588.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $563.81.
Shares of INTU opened at $358.97 on Wednesday. Intuit has a fifty-two week low of $339.36 and a fifty-two week high of $716.86. The firm has a 50-day simple moving average of $438.84 and a 200-day simple moving average of $527.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $101.52 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.89 and a beta of 1.16.
In other Intuit news, EVP Laura A. Fennell sold 59,286 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total value of $28,162,628.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Alexander Chriss sold 368 shares of the stock in a transaction on Monday, February 28th. The shares were sold at an average price of $478.84, for a total value of $176,213.12. The disclosure for this sale can be found here. 3.27% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Intuit by 3.7% during 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 during the period. Vanguard Group Inc. raised its position in shares of Intuit by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 24,068,193 shares of the software maker’s stock valued at $11,572,950,000 after buying an additional 1,446,489 shares in the last quarter. State Street Corp lifted its position in Intuit by 1.8% in the 1st quarter. State Street Corp now owns 11,739,798 shares of the software maker’s stock worth $5,644,964,000 after buying an additional 210,562 shares during the last quarter. Geode Capital Management LLC lifted its stake in Intuit by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 4,922,658 shares of the software maker’s stock worth $3,158,032,000 after purchasing an additional 336,690 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in Intuit by 2.8% in the first quarter. Brown Advisory Inc. now owns 3,823,715 shares of the software maker’s stock valued at $1,962,730,000 after purchasing an additional 103,642 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.
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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