Intuit (NASDAQ:INTU) had its price target cut by Morgan Stanley from $245.00 to $239.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s target price would suggest a potential downside of 3.87% from the stock’s previous close.
A number of other research firms have also weighed in on INTU. Royal Bank of Canada raised their price objective on Intuit from $274.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. KeyCorp raised their price objective on Intuit from $255.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Exane BNP Paribas assumed coverage on Intuit in a research report on Friday, March 29th. They set an “underperform” rating and a $200.00 price objective for the company. BidaskClub lowered Intuit from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, BNP Paribas assumed coverage on Intuit in a research report on Friday, March 29th. They set an “underperform” rating and a $200.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $243.26.
Shares of NASDAQ:INTU traded up $7.64 during trading on Thursday, hitting $248.63. The stock had a trading volume of 223,735 shares, compared to its average volume of 1,541,607. Intuit has a 12 month low of $182.61 and a 12 month high of $272.14. The firm has a market capitalization of $61.38 billion, a P/E ratio of 54.89, a P/E/G ratio of 2.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.44. Intuit had a return on equity of 53.70% and a net margin of 22.89%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities analysts forecast that Intuit will post 5.3 EPS for the current fiscal year.
In other Intuit news, Director Dennis D. Powell sold 4,083 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $248.96, for a total transaction of $1,016,503.68. Following the sale, the director now directly owns 3,550 shares in the company, valued at approximately $883,808. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Alexander Chriss sold 923 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $247.10, for a total value of $228,073.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,609 shares of company stock worth $22,757,853. Company insiders own 4.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Financial Advantage Inc. purchased a new position in shares of Intuit in the 1st quarter worth $26,000. CX Institutional boosted its stake in shares of Intuit by 85.5% in the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after buying an additional 47 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of Intuit in the 1st quarter worth $28,000. Private Ocean LLC purchased a new position in shares of Intuit in the 1st quarter worth $28,000. Finally, Athena Capital Advisors LLC purchased a new position in shares of Intuit in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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