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

Stock analysts at Redburn Atlantic initiated coverage on shares of Intuit (NASDAQ:INTU) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating on the software maker’s stock.

A number of other research firms have also recently issued reports on INTU. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group upped their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Down 0.1 %

Shares of NASDAQ:INTU traded down $0.38 during trading on Wednesday, hitting $579.56. 376,734 shares of the company’s stock traded hands, compared to its average volume of 1,677,279. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $617.68 and a 200-day moving average price of $629.18. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a market cap of $162.23 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 2.89 and a beta of 1.24.

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

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. 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 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuit

Institutional investors have recently modified their holdings of the business. Cache Advisors LLC bought a new stake in Intuit in the 4th quarter valued at about $2,195,000. GF Fund Management CO. LTD. bought a new stake in shares of Intuit in the fourth quarter valued at approximately $33,714,000. University of Texas Texas AM Investment Management Co. grew its position in Intuit by 1,602.6% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 647 shares of the software maker’s stock worth $407,000 after buying an additional 609 shares in the last quarter. Parr Mcknight Wealth Management Group LLC bought a new position in Intuit during the 4th quarter worth $2,330,000. Finally, Pacific Point Advisors LLC acquired a new position in Intuit in the fourth quarter valued at about $3,142,000. 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.