StockNews.com Upgrades Intuit (NASDAQ:INTU) to Buy

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

Several other brokerages also recently weighed in on INTU. Jefferies Financial Group lowered their target price on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets dropped their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $717.53.

Intuit Price Performance

Shares of NASDAQ INTU opened at $627.47 on Tuesday. The stock has a fifty day moving average price of $596.32 and a 200 day moving average price of $616.22. Intuit has a 1-year low of $532.65 and a 1-year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $175.42 billion, a PE ratio of 60.92, a P/E/G ratio of 2.85 and a beta of 1.25.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

A number of hedge funds and other institutional investors have recently modified their holdings of INTU. Vanguard Group Inc. raised its holdings in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. Geode Capital Management LLC raised its stake in Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after purchasing an additional 132,384 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Norges Bank purchased a new stake in shares of Intuit during the 4th quarter valued at $2,290,419,000. Finally, Brown Advisory Inc. increased its holdings in shares of Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker’s stock worth $2,114,950,000 after buying an additional 252,265 shares during the last quarter. 83.66% of the stock is currently 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.