Intuit (NASDAQ:INTU) Downgraded by StockNews.com to “Hold”

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

INTU has been the subject of several other research reports. KeyCorp upped their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lifted their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Evercore ISI increased their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Susquehanna lifted their price objective on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Oppenheimer increased their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Intuit Trading Up 1.0 %

Shares of NASDAQ INTU opened at $641.15 on Wednesday. The company’s 50 day simple moving average is $636.41 and its 200 day simple moving average is $608.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a market capitalization of $179.52 billion, a P/E ratio of 65.42, a P/E/G ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.05 EPS. On average, analysts predict that Intuit will post 11.27 EPS for the current year.

Insider Transactions at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Intuit in the 4th quarter valued at approximately $2,101,848,000. Wellington Management Group LLP raised its stake in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC purchased a new position in Intuit in the 4th quarter valued at about $467,852,000. Parnassus Investments LLC boosted its stake in shares of Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares during the period. 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.