Intuit (NASDAQ:INTU) Upgraded to Buy by StockNews.com

Intuit (NASDAQ:INTU) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently commented on the company. Wells Fargo & Company lifted their price target on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp raised their price target on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $716.35.

Intuit Stock Up 1.2 %

Intuit stock opened at $630.26 on Friday. The business has a fifty day moving average price of $640.17 and a 200-day moving average price of $633.70. Intuit has a 1-year low of $473.56 and a 1-year high of $676.62. The stock has a market capitalization of $176.19 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts forecast that Intuit will post 11.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total value of $42,581,250.00. Following the transaction, the insider now owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,367 shares of company stock valued at $60,118,991. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

A number of institutional investors and hedge funds have recently bought and sold shares of the business. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $26,000. West Branch Capital LLC raised its stake in Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit during the second quarter worth about $35,000. 83.66% of the stock is currently 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.