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

Piper Sandler reaffirmed their overweight rating on shares of Intuit (NASDAQ:INTU) in a research note released on Wednesday,Benzinga reports. Piper Sandler currently has a $785.00 price objective on the software maker’s stock, up from their prior price objective of $765.00.

INTU has been the subject of several other research reports. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday. Finally, Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $723.76.

Intuit Stock Performance

Shares of INTU stock opened at $625.51 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a market capitalization of $175.09 billion, a P/E ratio of 60.73, a PEG ratio of 2.85 and a beta of 1.24. The stock has a 50 day moving average price of $607.22 and a two-hundred day moving average price of $627.53.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,014 shares of company stock valued at $140,855,687 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several large investors have recently modified their holdings of INTU. Integrated Advisors Network LLC grew its holdings in shares of Intuit by 9.6% during the third quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock valued at $879,000 after buying an additional 124 shares during the last quarter. Strategic Blueprint LLC lifted its position in Intuit by 1.9% in the 3rd quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after acquiring an additional 22 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in Intuit by 9.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock valued at $899,000 after purchasing an additional 126 shares during the last quarter. Childress Capital Advisors LLC increased its holdings in shares of Intuit by 3.2% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,137 shares of the software maker’s stock worth $706,000 after purchasing an additional 35 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in shares of Intuit by 21.5% in the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock worth $1,625,000 after purchasing an additional 476 shares in the last quarter. Hedge funds and other 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.