Intuit (NASDAQ:INTU) Rating Increased to Buy at StockNews.com

Intuit (NASDAQ:INTU - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts have also recently issued reports about the company. Barclays boosted their price objective on Intuit from $735.00 to $745.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. Piper Sandler upped their price target on Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. KeyCorp upped their price target on Intuit from $700.00 to $720.00 and gave the company an "overweight" rating in a research report on Wednesday, March 27th. Evercore ISI upped their price target on Intuit from $670.00 to $725.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Finally, Oppenheimer upped their price target on Intuit from $678.00 to $712.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $650.23.

Intuit Stock Down 2.0 %

INTU traded down $12.77 during mid-day trading on Tuesday, reaching $625.62. 1,309,742 shares of the stock were exchanged, compared to its average volume of 1,246,179. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $175.17 billion, a PE ratio of 64.87, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21. The company has a 50 day moving average price of $639.91 and a two-hundred day moving average price of $604.28. Intuit has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same period in the previous year, the business posted $1.05 EPS. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, research analysts anticipate that Intuit will post 11.27 EPS for the current year.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 22,948 shares of the company's stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company's stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Intuit

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. lifted its position in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker's stock valued at $738,000 after purchasing an additional 16 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker's stock valued at $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker's stock valued at $281,000 after acquiring an additional 16 shares in the last quarter. GAM Holding AG raised its holdings in shares of Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker's stock valued at $3,671,000 after acquiring an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker's stock valued at $448,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

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.