Intuit (NASDAQ:INTU) Raised to Overweight at Morgan Stanley

Intuit (NASDAQ:INTU) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $730.00 price objective on the software maker’s stock. Morgan Stanley’s target price suggests a potential upside of 21.58% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lifted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $717.88.

Intuit Trading Down 4.0 %

NASDAQ:INTU opened at $600.42 on Wednesday. Intuit has a 1 year low of $553.24 and a 1 year high of $714.78. The stock has a market cap of $168.07 billion, a P/E ratio of 58.29, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day simple moving average of $606.49 and a 200-day simple moving average of $627.35.

Insider Activity

In related news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock valued at $140,855,687 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

A number of institutional investors have recently added to or reduced their stakes in INTU. Norges Bank acquired a new stake in shares of Intuit during the 4th quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC increased its stake in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Wellington Management Group LLP boosted its position in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment grew its holdings in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after purchasing an additional 500,000 shares during the last quarter. Hedge funds and other 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.