Jefferies Financial Group Cuts Intuit (NASDAQ:INTU) Price Target to $735.00

Intuit (NASDAQ:INTU) had its price objective lowered by investment analysts at Jefferies Financial Group from $800.00 to $735.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Jefferies Financial Group’s price target points to a potential upside of 22.56% from the company’s current price.

A number of other brokerages have also weighed in on INTU. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Scotiabank dropped their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Price Performance

INTU opened at $599.70 on Monday. 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 cap of $167.65 billion, a P/E ratio of 58.01, a PEG ratio of 2.85 and a beta of 1.27. Intuit has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a 50-day moving average of $595.90 and a 200 day moving average of $622.23.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,896 shares of company stock worth $82,946,716. 2.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brown Financial Advisors increased its stake in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares in the last quarter. True North Advisors LLC increased its position in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares in the last quarter. Great Diamond Partners LLC raised its holdings in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares during the last quarter. RB Capital Management LLC lifted its position in Intuit by 0.6% in the 3rd quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock valued at $1,968,000 after acquiring an additional 18 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its stake in Intuit by 27.7% during the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after purchasing an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

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.