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

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

INTU has been the subject of a number of other reports. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Piper Sandler reduced their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

INTU stock opened at $640.12 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $179.31 billion, a price-to-earnings ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25. Intuit has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a 50 day moving average of $634.81 and a two-hundred day moving average of $631.20.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. As a group, equities analysts anticipate that Intuit will post 14.05 EPS for the current fiscal year.

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 18.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuit

A number of hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC grew its holdings in Intuit by 6.6% during the 3rd quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker’s stock worth $1,500,000 after acquiring an additional 150 shares during the last quarter. Virtu Financial LLC bought a new stake in Intuit during the 3rd quarter worth about $7,506,000. Invst LLC bought a new stake in Intuit during the 3rd quarter worth about $203,000. Unigestion Holding SA bought a new stake in Intuit during the 3rd quarter worth about $1,136,000. Finally, Soltis Investment Advisors LLC lifted its position in Intuit by 13.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 428 shares of the software maker’s stock valued at $266,000 after purchasing an additional 52 shares during the period. Institutional investors own 83.66% of the company’s stock.

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.