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

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

INTU has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Trading Up 1.0 %

NASDAQ:INTU opened at $643.39 on Friday. The stock has a fifty day simple moving average of $644.08 and a 200 day simple moving average of $634.65. The firm has a market capitalization of $180.10 billion, a price-to-earnings ratio of 62.47, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 the consensus estimate of $3.14 billion. During the same period last year, the firm posted $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Intuit will post 14.07 earnings per share for the current year.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s 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 owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,589 shares of company stock valued at $123,328,338. 2.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

A number of institutional investors have recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. grew its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares in the last quarter. Retireful LLC bought a new position in shares of Intuit during the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit during the 3rd quarter valued at about $56,144,000. Finally, Howe & Rusling Inc. increased its stake in Intuit by 8.0% in the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock valued at $6,742,000 after acquiring an additional 808 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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.