Intuit (NASDAQ:INTU) Coverage Initiated by Analysts at Redburn Atlantic

Redburn Atlantic assumed coverage on shares of Intuit (NASDAQ:INTU) in a research note published on Wednesday, Marketbeat.com reports. The firm issued a neutral rating on the software maker’s stock.

A number of other brokerages also recently commented on INTU. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Price Performance

Intuit stock opened at $582.19 on Wednesday. The stock has a market capitalization of $162.97 billion, a P/E ratio of 56.52, a P/E/G ratio of 2.89 and a beta of 1.24. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50-day moving average is $615.92 and its two-hundred day moving average is $628.85.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. Equities analysts predict that Intuit will post 14.09 earnings per share for the current year.

Insiders Place Their Bets

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Intuit in the fourth quarter worth about $2,290,419,000. Proficio Capital Partners LLC raised its holdings in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 acquiring an additional 771,232 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the period. Finally, Unisphere Establishment increased its position in shares of Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock worth $942,750,000 after acquiring an additional 500,000 shares in the last quarter. 83.66% of the stock is 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.