Intuit (NASDAQ:INTU) Downgraded by StockNews.com

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

A number of other research analysts have also issued reports on INTU. Stifel Nicolaus raised their target price on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays boosted their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Evercore ISI upped their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Mizuho upped their target price on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Up 1.0 %

Intuit stock opened at $641.15 on Wednesday. The company has a market capitalization of $179.52 billion, a P/E ratio of 65.42, a P/E/G ratio of 3.83 and a beta of 1.22. Intuit has a 1-year low of $400.22 and a 1-year high of $671.01. The firm’s fifty day simple moving average is $636.41 and its 200-day simple moving average is $608.45. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

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

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Republic Capital LLC raised its position in shares of Intuit by 14.1% during the first quarter. New Republic Capital LLC now owns 397 shares of the software maker’s stock worth $258,000 after purchasing an additional 49 shares during the period. Williams Jones Wealth Management LLC. raised its holdings in shares of Intuit by 4.5% during the first quarter. Williams Jones Wealth Management LLC. now owns 316,811 shares of the software maker’s stock worth $205,927,000 after acquiring an additional 13,515 shares during the period. Donoghue Forlines LLC lifted its position in Intuit by 23.5% in the 1st quarter. Donoghue Forlines LLC now owns 1,467 shares of the software maker’s stock valued at $954,000 after acquiring an additional 279 shares in the last quarter. Verus Capital Partners LLC bought a new stake in shares of Intuit in the first quarter valued at about $340,000. Finally, Meeder Advisory Services Inc. lifted its stake in Intuit by 3.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,422 shares of the software maker’s stock valued at $2,874,000 after acquiring an additional 140 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

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.