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

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

INTU has been the subject of several other reports. Stifel Nicolaus upped their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup lifted their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Trading Down 2.4 %

Intuit stock opened at $606.28 on Monday. Intuit has a one year low of $473.56 and a one year high of $676.62. The company’s fifty day moving average price is $634.00 and its two-hundred day moving average price is $630.07. The company has a market capitalization of $169.48 billion, a price-to-earnings ratio of 55.93, a PEG ratio of 3.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts forecast that Intuit will post 14.07 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred on 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 $2,384,755.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,522 shares of company stock worth $32,284,911. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently bought and sold shares of the business. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter worth about $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp bought a new position in Intuit in the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.