Intuit (NASDAQ:INTU) Downgraded by StockNews.com to Hold

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

Several other research analysts also recently commented on INTU. Wells Fargo & Company increased their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an overweight rating in a report on Wednesday, February 21st. Mizuho increased their price target on shares of Intuit from $670.00 to $725.00 and gave the company a buy rating in a report on Friday, February 23rd. Stifel Nicolaus increased their price target on shares of 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 issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Finally, KeyCorp increased their price target on shares of Intuit from $700.00 to $720.00 and gave the company an overweight rating in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $645.00.

Intuit Stock Up 0.8 %

INTU opened at $609.77 on Monday. The firm has a 50-day simple moving average of $641.98 and a two-hundred day simple moving average of $600.94. Intuit has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a market capitalization of $170.74 billion, a PE ratio of 62.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21. 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 (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Analysts forecast that Intuit will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

A number of hedge funds and other institutional investors have recently modified their holdings of INTU. Vanguard Group Inc. boosted its stake in Intuit by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after acquiring an additional 117,478 shares in the last quarter. FMR LLC boosted its stake in Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares in the last quarter. Morgan Stanley boosted its stake in Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after acquiring an additional 137,198 shares in the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in Intuit by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after acquiring an additional 80,517 shares in the last quarter. 83.66% of the stock is currently 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.