Intuit (NASDAQ:INTU) Now Covered by Analysts at Redburn Atlantic

Redburn Atlantic assumed coverage on shares of Intuit (NASDAQ:INTU) in a report issued on Wednesday, Marketbeat reports. The firm issued a neutral rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Finally, Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Up 0.4 %

INTU opened at $582.19 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit has a one year low of $557.29 and a one year high of $714.78. The company has a market cap of $162.97 billion, a P/E ratio of 56.52, a PEG ratio of 2.89 and a beta of 1.24. The business’s 50-day simple moving average is $615.92 and its 200-day simple moving average is $628.85.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Intuit will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last quarter. Company insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new stake in Intuit in the fourth quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at about $27,000. NewSquare Capital LLC increased its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Institutional investors and hedge funds 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.