Intuit (NASDAQ:INTU) Raised to “Strong-Buy” at Hsbc Global Res

Intuit (NASDAQ:INTU) was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

INTU has been the topic of several other reports. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. BMO Capital Markets dropped their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group cut their price target on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a report on Monday, March 31st. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a report on Wednesday. Finally, Citigroup cut their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $717.53.

Intuit Trading Up 3.2 %

Shares of NASDAQ:INTU opened at $614.83 on Wednesday. The stock has a market capitalization of $171.88 billion, a PE ratio of 59.69, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company’s 50-day moving average price is $592.59 and its two-hundred day moving average price is $616.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit has a one year low of $532.65 and a one year high of $714.78.

Insiders Place Their Bets

In other news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the sale, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuit

A number of institutional investors have recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new stake in Intuit in the fourth quarter valued at $25,000. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC raised its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC bought a new stake in Intuit in the fourth quarter valued at approximately $28,000. 83.66% of the stock is 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.