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

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

Several other research firms have also weighed in on INTU. Oppenheimer lifted their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Susquehanna lifted 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. KeyCorp increased their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, Wells Fargo & Company lifted their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Intuit Trading Down 0.9 %

INTU opened at $626.86 on Wednesday. Intuit has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a market cap of $175.52 billion, a price-to-earnings ratio of 63.97, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $635.87 and a 200 day simple moving average of $608.61.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit will post 11.27 earnings per share for the current year.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were 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. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 over the last quarter. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuit

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Intuit in the fourth quarter valued at approximately $2,101,848,000. Wellington Management Group LLP grew its holdings in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Intuit during the fourth quarter worth $467,852,000. Parnassus Investments LLC boosted its position in shares of Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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.