UBS Group Initiates Coverage on Intuit (NASDAQ:INTU)

Investment analysts at UBS Group started coverage on shares of Intuit (NASDAQ:INTU – Get Rating) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “neutral” rating and a $430.00 price target on the software maker’s stock. UBS Group’s price target would suggest a potential upside of 2.83% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Daiwa Capital Markets initiated coverage on shares of Intuit in a research note on Wednesday. They issued an “outperform” rating and a $444.00 price objective on the stock. Oppenheimer reduced their target price on Intuit from $516.00 to $476.00 and set an “outperform” rating for the company in a research report on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft cut their price objective on Intuit from $560.00 to $525.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. KeyCorp lifted their price objective on Intuit from $425.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, January 20th. Finally, BMO Capital Markets lifted their price objective on Intuit from $448.00 to $462.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $483.53.

Intuit Price Performance

NASDAQ INTU opened at $418.15 on Wednesday. The company has a 50 day simple moving average of $408.03 and a 200-day simple moving average of $404.37. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $117.31 billion, a price-to-earnings ratio of 61.31, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. Intuit has a 52-week low of $339.36 and a 52-week high of $507.71.

Intuit (NASDAQ:INTU – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The software maker reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.76. Intuit had a return on equity of 14.89% and a net margin of 14.22%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Equities research analysts predict that Intuit will post 9.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In related news, CFO Michelle M. Clatterbuck sold 545 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $421.38, for a total transaction of $229,652.10. Following the completion of the sale, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $568,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction on Monday, January 9th. The stock was sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the transaction, the executive vice president now directly owns 344 shares in the company, valued at $137,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michelle M. Clatterbuck sold 545 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $421.38, for a total value of $229,652.10. Following the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $568,863. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,925 shares of company stock worth $3,258,123. 3.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuit

Several hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in shares of Intuit in the 3rd quarter valued at about $25,000. Kistler Tiffany Companies LLC grew its holdings in shares of Intuit by 275.0% during the 4th quarter. Kistler Tiffany Companies LLC now owns 75 shares of the software maker’s stock worth $29,000 after acquiring an additional 55 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of Intuit by 81.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock worth $29,000 after acquiring an additional 34 shares during the period. First Financial Corp IN grew its holdings in shares of Intuit by 75.5% during the 4th quarter. First Financial Corp IN now owns 86 shares of the software maker’s stock worth $33,000 after acquiring an additional 37 shares during the period. Finally, Freedom Wealth Alliance LLC purchased a new position in shares of Intuit during the 4th quarter worth approximately $34,000. Institutional investors own 82.65% of the company’s stock.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.