Intuit (NASDAQ:INTU) Shares Gap Up – Should You Buy?

Intuit Inc. (NASDAQ:INTU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $555.63, but opened at $635.50. Intuit shares last traded at $629.26, with a volume of 1,367,883 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $725.18.

Intuit Price Performance

The company has a market capitalization of $175.80 billion, a P/E ratio of 61.04, a PEG ratio of 2.85 and a beta of 1.24. The stock’s fifty day simple moving average is $607.70 and its 200-day simple moving average is $627.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock worth $140,855,687 in the last 90 days. 2.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INTU. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter worth about $28,000. Integrated Advisors Network LLC lifted its position in shares of Intuit by 1.8% in the 4th quarter. Integrated Advisors Network LLC now owns 1,441 shares of the software maker’s stock worth $906,000 after acquiring an additional 25 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $64,000. United Advisor Group LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $226,000. Finally, American Trust raised its stake in shares of Intuit by 60.5% in the fourth quarter. American Trust now owns 2,911 shares of the software maker’s stock valued at $1,830,000 after purchasing an additional 1,097 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Company Profile

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.