Intuit (NASDAQ:INTU) Hits New 1-Year Low – Here’s What Happened

Intuit Inc. (NASDAQ:INTU) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $554.73 and last traded at $554.91, with a volume of 670332 shares changing hands. The stock had previously closed at $567.24.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $726.71.

Intuit Stock Down 1.3 %

The stock has a market capitalization of $156.65 billion, a price-to-earnings ratio of 54.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $610.15 and a 200 day moving average price of $628.07.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of hedge funds and other institutional investors have recently made changes to their positions in INTU. R Squared Ltd acquired a new position in shares of Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit in the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit during the 4th quarter valued at about $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.

About Intuit

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.