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

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

Several other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday. Piper Sandler decreased their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. BMO Capital Markets increased their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

Intuit stock opened at $640.12 on Friday. The stock has a market cap of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. 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 has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a 50-day moving average of $634.81 and a two-hundred day moving average of $631.19.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Intuit will post 14.05 earnings per share for the current year.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock worth $35,200,125 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTU. Harvest Portfolios Group Inc. lifted its holdings in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC purchased a new position in Intuit during the third quarter valued at $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit during the third quarter valued at $56,144,000. Finally, Cetera Advisors LLC lifted its holdings in Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares in the last quarter. 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.