StockNews.com Upgrades Intuit (NASDAQ:INTU) to Buy

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

Several other brokerages have also commented on INTU. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Mizuho lifted their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus upped their target price on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Finally, Susquehanna boosted their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Trading Down 1.7 %

Shares of INTU stock opened at $615.20 on Tuesday. The company has a market capitalization of $172.26 billion, a P/E ratio of 62.78, a price-to-earnings-growth ratio of 3.89 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $639.05 and its two-hundred day moving average is $605.00. Intuit has a twelve month low of $400.22 and a twelve month high of $671.01.

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

Insider Buying and Selling at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction 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 sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction 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 directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management increased its stake in Intuit by 14.3% during the 3rd quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock valued at $1,185,000 after buying an additional 285 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Intuit by 28.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 58,605 shares of the software maker’s stock worth $29,944,000 after acquiring an additional 13,013 shares during the period. Accurate Wealth Management LLC increased its stake in shares of Intuit by 67.2% during the third quarter. Accurate Wealth Management LLC now owns 903 shares of the software maker’s stock valued at $487,000 after acquiring an additional 363 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Intuit by 35.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 27,946 shares of the software maker’s stock worth $14,279,000 after purchasing an additional 7,265 shares during the period. Finally, Mission Wealth Management LP boosted its stake in Intuit by 43.3% during the 3rd quarter. Mission Wealth Management LP now owns 3,654 shares of the software maker’s stock valued at $1,867,000 after purchasing an additional 1,104 shares in the last quarter. 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.