Intuit (NASDAQ:INTU) Trading Down 3.6% Following Analyst Downgrade

Intuit Inc. (NASDAQ:INTU)’s stock price dropped 3.6% during mid-day trading on Friday after StockNews.com downgraded the stock from a buy rating to a hold rating. The company traded as low as $645.98 and last traded at $654.50. Approximately 839,122 shares were traded during trading, a decline of 38% from the average daily volume of 1,346,641 shares. The stock had previously closed at $678.70.

Several other research analysts also recently weighed in on INTU. Jefferies Financial Group upped their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday. Finally, Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of hedge funds and other institutional investors have recently made changes to their positions in INTU. LGT Financial Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the second quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in Intuit during the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the third quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter worth about $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $179.31 billion, a price-to-earnings ratio of 61.26, a P/E/G ratio of 3.15 and a beta of 1.25. The firm has a fifty day simple moving average of $634.81 and a two-hundred day simple moving average of $631.27.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

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.