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

Intuit (NASDAQ:INTU) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research firms also recently issued reports on INTU. Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday. Piper Sandler decreased their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Performance

Shares of INTU stock opened at $640.12 on Friday. The company’s fifty day simple moving average is $634.81 and its 200-day simple moving average is $631.20. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $179.31 billion, a PE ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit will post 14.05 EPS for the current year.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC purchased a new position in Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in Intuit during the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit during the second quarter valued at approximately $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.