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

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

A number of other brokerages have also issued reports on INTU. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Price Performance

Intuit stock traded down $2.35 during trading on Wednesday, reaching $621.45. The company had a trading volume of 1,937,948 shares, compared to its average volume of 1,488,937. The firm has a market capitalization of $173.95 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The firm’s 50-day simple moving average is $649.57 and its 200 day simple moving average is $637.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit will post 14.07 earnings per share for the current fiscal year.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The stock was 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 directly owns 1,864 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INTU. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter worth approximately $27,000. Denver PWM LLC purchased a new stake in shares of Intuit during the third quarter worth $32,000. Dunhill Financial LLC raised its stake in shares of Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Intuit in the second quarter valued at $49,000. Finally, Pacifica Partners Inc. boosted its holdings in Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.