Intuit (NASDAQ:INTU) Upgraded at StockNews.com

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

INTU has been the subject of several other reports. BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Piper Sandler cut their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Trading Down 2.4 %

NASDAQ:INTU opened at $656.45 on Thursday. 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 has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a market cap of $183.75 billion, a P/E ratio of 65.27, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. The business has a 50 day moving average price of $639.04 and a two-hundred day moving average price of $631.28.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts expect that Intuit will post 14.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 150,542 shares of company stock valued at $97,235,054 over the last 90 days. 2.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Intuit during the second quarter worth approximately $184,982,000. Ameriprise Financial Inc. increased its holdings in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, State Street Corp lifted its stake in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. Institutional investors and hedge funds 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.