Intuit (NASDAQ:INTU) Earns Sector Perform Rating from Analysts at Scotiabank

Scotiabank initiated coverage on shares of Intuit (NASDAQ:INTU) in a research note released on Monday, MarketBeat Ratings reports. The firm issued a sector perform rating and a $700.00 price objective on the software maker’s stock.

Several other equities analysts also recently commented on INTU. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays boosted their price target on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Jefferies Financial Group increased their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $737.06.

Intuit Stock Up 1.0 %

NASDAQ INTU opened at $650.60 on Monday. The business has a fifty day moving average price of $634.46 and a two-hundred day moving average price of $630.89. The stock has a market capitalization of $182.36 billion, a PE ratio of 62.26, a PEG ratio of 3.36 and a beta of 1.25. Intuit has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. Equities analysts expect that Intuit will post 14.05 earnings per share for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares during the last quarter. Holocene Advisors LP increased its position in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Intuit during the 2nd quarter valued at $184,982,000. Ameriprise Financial Inc. grew its stake in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, State Street Corp increased its holdings in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during 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.