Stock analysts at UBS Group began coverage on shares of Intuit (NASDAQ:INTU – Get Rating) in a report issued on Wednesday, The Fly reports. The firm set a “neutral” rating on the software maker’s stock.
Other research analysts have also recently issued reports about the stock. Citigroup upped their price objective on shares of Intuit from $457.00 to $475.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Credit Suisse Group assumed coverage on shares of Intuit in a report on Monday, November 21st. They issued an “outperform” rating and a $500.00 price target on the stock. Piper Sandler lifted their price objective on shares of Intuit from $459.00 to $510.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. Oppenheimer reduced their target price on Intuit from $516.00 to $476.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 30th. Finally, Jefferies Financial Group cut their price objective on Intuit from $575.00 to $525.00 in a report on Wednesday, November 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $486.50.
Intuit Price Performance
NASDAQ:INTU traded down $4.41 during trading hours on Wednesday, hitting $403.89. The stock had a trading volume of 1,422,104 shares, compared to its average volume of 1,573,248. The company has a 50 day simple moving average of $406.89 and a two-hundred day simple moving average of $404.26. The firm has a market capitalization of $113.31 billion, a price-to-earnings ratio of 59.22, a P/E/G ratio of 2.92 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.23. Intuit has a one year low of $339.36 and a one year high of $507.71.
Intuit (NASDAQ:INTU – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The software maker reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.76. Intuit had a return on equity of 14.89% and a net margin of 14.22%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Research analysts forecast that Intuit will post 9.04 earnings per share for the current fiscal year.
Insider Activity at Intuit
In other news, EVP James Alexander Chriss sold 597 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the sale, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $137,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Lauren D. Hotz sold 500 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $413.16, for a total value of $206,580.00. Following the sale, the chief accounting officer now directly owns 1,781 shares of the company’s stock, valued at $735,837.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 597 shares of the firm’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $400.00, for a total value of $238,800.00. Following the transaction, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $137,600. The disclosure for this sale can be found here. Insiders sold a total of 7,925 shares of company stock worth $3,258,123 over the last quarter. 3.18% of the stock is owned by corporate insiders.
Institutional Trading of Intuit
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fairfield Bush & CO. lifted its position in Intuit by 39.6% in the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after acquiring an additional 1,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Intuit by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after purchasing an additional 48,196 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Intuit by 8.4% during the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock valued at $1,552,000 after buying an additional 249 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Intuit by 7.1% in the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock worth $25,825,000 after buying an additional 3,576 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Intuit by 6.6% in the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock worth $16,448,000 after buying an additional 2,127 shares during the last quarter. Hedge funds and other institutional investors own 82.65% of the company’s stock.
Intuit Company Profile
Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
