Intuit (NASDAQ:INTU) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Intuit (NASDAQ:INTU) from an equal weight rating to an overweight rating in a research report released on Wednesday, Marketbeat.com reports. The firm currently has $730.00 target price on the software maker’s stock.

INTU has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Finally, Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $723.76.

Intuit Stock Performance

Shares of Intuit stock opened at $625.51 on Wednesday. The company has a market capitalization of $175.09 billion, a PE ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a 50-day simple moving average of $607.22 and a two-hundred day simple moving average of $627.53. Intuit has a one year low of $553.24 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Intuit during the 4th quarter worth $2,290,419,000. Proficio Capital Partners LLC lifted its position in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after buying an additional 771,232 shares during the period. Wellington Management Group LLP boosted its stake in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares during the period. Finally, Unisphere Establishment increased its position in shares of Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after acquiring an additional 500,000 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.