BMO Capital Markets Issues Pessimistic Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU) had its target price dropped by BMO Capital Markets from $760.00 to $714.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price objective suggests a potential upside of 18.92% from the company’s current price.

INTU has been the subject of several other reports. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $717.88.

Intuit Stock Down 4.0 %

NASDAQ:INTU opened at $600.42 on Wednesday. Intuit has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a market cap of $168.07 billion, a price-to-earnings ratio of 58.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The stock has a fifty day simple moving average of $606.49 and a 200-day simple moving average of $627.35. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,014 shares of company stock worth $140,855,687. Insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

A number of large investors have recently modified their holdings of the business. Integrated Advisors Network LLC lifted 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 worth $879,000 after purchasing an additional 124 shares during the period. Strategic Blueprint LLC lifted its holdings in shares of Intuit by 1.9% during the third quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock worth $725,000 after purchasing an additional 22 shares during the period. Fidelis Capital Partners LLC lifted its holdings in shares of Intuit by 9.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock worth $899,000 after purchasing an additional 126 shares during the period. Childress Capital Advisors LLC lifted its holdings in shares of Intuit by 3.2% during the third 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 during the period. Finally, Mutual Advisors LLC lifted its holdings in shares of Intuit by 21.5% during the third 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 during the period. 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.