StockNews.com Downgrades Intuit (NASDAQ:INTU) to Hold

by · The Cerbat Gem

StockNews.com downgraded shares of Intuit (NASDAQ:INTU – Free Report) from a buy rating to a hold rating in a research report report published on Friday.

INTU has been the topic of a number of other research reports. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $737.44.

Read Our Latest Research Report on Intuit

Intuit Stock Up 1.0 %

INTU stock opened at $643.39 on Friday. Intuit has a one year low of $557.29 and a one year high of $714.78. The firm has a market cap of $180.10 billion, a PE ratio of 62.47, a PEG ratio of 3.31 and a beta of 1.24. The firm’s 50 day moving average price is $644.08 and its 200-day moving average price is $634.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU – Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. On average, equities research analysts anticipate that Intuit will post 14.07 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,589 shares of company stock worth $123,328,338 in the last ninety days. 2.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuit

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LGT Financial Advisors LLC acquired a new position in Intuit in the 2nd quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit during the third quarter worth approximately $27,000. Denver PWM LLC acquired a new stake in shares of Intuit during the third quarter worth $32,000. Finally, Trifecta Capital Advisors LLC lifted its holdings in shares of Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

About Intuit

(Get Free Report)

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.

Recommended Stories