Intuit (NASDAQ:INTU) Rating Lowered to “Hold” at StockNews.com

Intuit (NASDAQ:INTU) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other equities research analysts also recently issued reports about the company. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Up 0.3 %

Shares of NASDAQ:INTU opened at $636.02 on Wednesday. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $178.03 billion, a PE ratio of 61.75, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. The company has a fifty day simple moving average of $633.89 and a 200 day simple moving average of $630.95.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 EPS. On average, equities research analysts anticipate that Intuit will post 14.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 89.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,324 shares of company stock worth $75,803,690. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Csenge Advisory Group increased its stake in Intuit by 16.6% in the 2nd quarter. Csenge Advisory Group now owns 843 shares of the software maker’s stock worth $554,000 after purchasing an additional 120 shares in the last quarter. BDF Gestion purchased a new stake in Intuit in the 2nd quarter worth approximately $7,196,000. Manning & Napier Advisors LLC purchased a new position in Intuit in the second quarter valued at about $29,084,000. CHICAGO TRUST Co NA lifted its stake in Intuit by 9.3% in the second quarter. CHICAGO TRUST Co NA now owns 1,180 shares of the software maker’s stock valued at $776,000 after acquiring an additional 100 shares during the last quarter. Finally, Orrstown Financial Services Inc. bought a new stake in Intuit in the second quarter worth approximately $200,000. 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.