Intuit (NASDAQ:INTU) Cut to Hold at StockNews.com

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

A number of other brokerages have also commented on INTU. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.50.

Intuit Stock Down 2.1 %

NASDAQ:INTU traded down $12.75 during trading hours on Monday, reaching $601.09. The company had a trading volume of 1,597,219 shares, compared to its average volume of 1,908,235. Intuit has a twelve month low of $553.24 and a twelve month 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. The firm has a market cap of $168.04 billion, a price-to-earnings ratio of 58.36, a P/E/G ratio of 2.85 and a beta of 1.24. The business’s 50-day simple moving average is $605.15 and its two-hundred day simple moving average is $626.69.

Insider Buying and Selling

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,460 shares of company stock valued at $144,750,747. 2.68% of the stock is owned by insiders.

Institutional Trading of Intuit

Several hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC bought a new position in Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Company Profile

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.