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

StockNews.com downgraded shares of Intuit (NASDAQ:INTU) from a buy rating to a hold rating in a research note published on Monday morning.

INTU has been the subject of a number of other research reports. Barclays boosted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an overweight rating in a research report on Friday, February 23rd. Evercore ISI boosted their target price on shares of Intuit from $670.00 to $725.00 and gave the company an outperform rating in a report on Friday, February 23rd. BMO Capital Markets restated an outperform rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. KeyCorp boosted their target price on shares of Intuit from $700.00 to $720.00 and gave the company an overweight rating in a report on Wednesday, March 27th. Finally, Susquehanna boosted their target price on shares of Intuit from $700.00 to $775.00 and gave the company a positive rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $645.00.

Intuit Stock Performance

NASDAQ:INTU opened at $609.77 on Monday. The firm has a 50 day simple moving average of $641.98 and a 200-day simple moving average of $600.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $170.74 billion, a PE ratio of 62.22, a P/E/G ratio of 3.68 and a beta of 1.21. Intuit has a 1-year low of $400.22 and a 1-year high of $671.01.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. On average, equities analysts expect that Intuit will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of institutional investors and hedge funds have recently bought and sold shares of INTU. RFG Advisory LLC grew its position in Intuit by 10.3% in the 3rd quarter. RFG Advisory LLC now owns 1,845 shares of the software maker’s stock valued at $943,000 after buying an additional 173 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in shares of Intuit by 7.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 767 shares of the software maker’s stock valued at $392,000 after purchasing an additional 50 shares in the last quarter. 1900 Wealth Management LLC bought a new position in shares of Intuit during the 3rd quarter valued at about $719,000. Founders Financial Securities LLC boosted its position in shares of Intuit by 9.6% during the 3rd quarter. Founders Financial Securities LLC now owns 640 shares of the software maker’s stock valued at $327,000 after purchasing an additional 56 shares in the last quarter. Finally, Roberts Wealth Advisors LLC lifted its stake in Intuit by 0.8% during the third quarter. Roberts Wealth Advisors LLC now owns 5,625 shares of the software maker’s stock valued at $3,043,000 after buying an additional 47 shares in the last quarter. 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.