Intuit (NASDAQ:INTU) Stock Rating Lowered by StockNews.com

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

A number of other research analysts also recently commented on INTU. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Barclays dropped their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Citigroup raised their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Down 1.4 %

INTU opened at $644.99 on Friday. The company has a market capitalization of $180.31 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The firm has a 50-day simple moving average of $636.82 and a two-hundred day simple moving average of $631.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit has a 52 week low of $473.56 and a 52 week high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Analysts forecast that Intuit will post 14.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 862 shares of the business’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 completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction dated 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 owns 1,020 shares of the company’s stock, valued at $664,020. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit 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 completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,389 shares of company stock worth $14,231,188 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

A number of institutional investors have recently modified their holdings of INTU. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Intuit by 84.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 93,025 shares of the software maker’s stock valued at $61,137,000 after buying an additional 42,685 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Intuit in the second quarter worth $786,000. Sanctuary Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth $12,334,000. Brown Financial Advisors acquired a new position in shares of Intuit in the 2nd quarter valued at $1,067,000. Finally, Sycomore Asset Management raised its stake in Intuit by 23.7% in the 2nd quarter. Sycomore Asset Management now owns 31,553 shares of the software maker’s stock worth $20,114,000 after acquiring an additional 6,039 shares during the last quarter. 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.