Intuit (NASDAQ:INTU) Stock Rating Lowered by StockNews.com

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

INTU has been the subject of a number of other reports. Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Performance

Shares of Intuit stock opened at $607.29 on Wednesday. The stock’s fifty day simple moving average is $649.03 and its 200 day simple moving average is $637.60. 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 company has a market capitalization of $169.99 billion, a PE ratio of 58.96, a PEG ratio of 3.07 and a beta of 1.25. Intuit has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Intuit’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Intuit will post 14.09 EPS for the current year.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, 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 can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last three months. 2.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuit

A number of large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in Intuit by 10.6% in the second quarter. American Century Companies Inc. now owns 51,454 shares of the software maker’s stock valued at $33,816,000 after acquiring an additional 4,913 shares during the last quarter. One Capital Management LLC bought a new stake in shares of Intuit during the 2nd quarter worth $202,000. Mutual of America Capital Management LLC boosted its stake in Intuit by 5.2% in the second quarter. Mutual of America Capital Management LLC now owns 39,681 shares of the software maker’s stock valued at $26,079,000 after buying an additional 1,963 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in Intuit by 2.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 106,028 shares of the software maker’s stock valued at $69,683,000 after acquiring an additional 2,937 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its stake in Intuit by 20.1% during the second quarter. E Fund Management Co. Ltd. now owns 6,960 shares of the software maker’s stock worth $4,574,000 after acquiring an additional 1,166 shares in the last quarter. Institutional investors and hedge funds 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.