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

StockNews.com lowered shares of Intuit (NASDAQ:INTU) from a buy rating to a hold rating in a report issued on Monday.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company raised their price target on Intuit from $615.00 to $710.00 and gave the stock an overweight rating in a research report on Wednesday, February 21st. Evercore ISI raised their price target on Intuit from $670.00 to $725.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on Intuit from $560.00 to $585.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. Susquehanna raised their price target on Intuit from $700.00 to $775.00 and gave the stock a positive rating in a research report on Friday, February 23rd. Finally, Oppenheimer raised their price target on Intuit from $678.00 to $712.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Intuit has a consensus rating of Moderate Buy and a consensus price target of $650.23.

Intuit Trading Down 1.4 %

Shares of INTU opened at $626.39 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit has a 12-month low of $400.22 and a 12-month high of $671.01. The firm has a market capitalization of $175.39 billion, a PE ratio of 63.92, a price-to-earnings-growth ratio of 3.87 and a beta of 1.21. The stock’s fifty day simple moving average is $640.64 and its 200-day simple moving average is $602.03.

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

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently modified their holdings of INTU. NewSquare Capital LLC bought a new stake in shares of Intuit during the 3rd quarter worth $25,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Intuit during the 4th quarter worth $25,000. Cape Investment Advisory Inc. acquired a new position in Intuit in the 3rd quarter worth about $26,000. West Branch Capital LLC increased its holdings in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

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.