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

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

Several other equities analysts have also weighed in on INTU. Evercore ISI increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Wells Fargo & Company increased their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Mizuho increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Barclays increased their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Stock Performance

NASDAQ INTU opened at $630.88 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $176.65 billion, a P/E ratio of 64.38, a PEG ratio of 3.68 and a beta of 1.21. Intuit has a twelve month low of $400.22 and a twelve month high of $671.01. The company’s 50-day simple moving average is $641.83 and its 200 day simple moving average is $601.63.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Intuit’s revenue was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Intuit will post 11.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last quarter. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Intuit in the 3rd quarter valued at approximately $51,000. V Square Quantitative Management LLC grew its holdings in shares of Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares during the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of Intuit by 27.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after purchasing an additional 1,900 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC bought a new stake in shares of Intuit during the 4th quarter valued at approximately $1,292,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.