StockNews.com Lowers Intuit (NASDAQ:INTU) to Hold

StockNews.com lowered shares of Intuit (NASDAQ:INTU) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

INTU has been the topic of several other research reports. Barclays upped their target price on Intuit from $735.00 to $745.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Piper Sandler upped their target price on Intuit from $642.00 to $750.00 and gave the stock an overweight rating in a report on Friday, February 23rd. BMO Capital Markets reiterated an outperform rating and set a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Susquehanna upped their target price on Intuit from $700.00 to $775.00 and gave the stock a positive rating in a report on Friday, February 23rd. Finally, Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of Moderate Buy and a consensus target price of $650.23.

Intuit Stock Performance

Shares of Intuit stock opened at $635.49 on Monday. The firm has a market cap of $177.94 billion, a price-to-earnings ratio of 64.85, a price-to-earnings-growth ratio of 3.71 and a beta of 1.21. The stock’s 50-day moving average is $641.40 and its 200-day moving average is $601.86. Intuit has a one year low of $400.22 and a one year high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 earnings per share. Equities analysts predict that Intuit will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insider Activity

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

Institutional Trading of Intuit

Large investors have recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the 4th quarter valued at about $25,000. West Branch Capital LLC grew its stake in shares of Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares during the period. MCF Advisors LLC grew its stake in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares during the period. NewSquare Capital LLC bought a new position in Intuit in the 3rd quarter valued at about $25,000. Finally, Cape Investment Advisory Inc. bought a new position in Intuit in the 3rd quarter valued at about $26,000. 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.