Intuit (NASDAQ:INTU) Stock Rating Lowered by BidaskClub

Intuit (NASDAQ:INTU) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, BidAskClub reports.

A number of other equities research analysts have also issued reports on the stock. UBS Group lowered shares of Intuit to a “sell” rating in a research note on Friday, October 25th. Citigroup lifted their target price on shares of Intuit from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Oppenheimer lifted their target price on shares of Intuit from $269.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their target price on shares of Intuit from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Credit Suisse Group lifted their target price on shares of Intuit from $265.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Intuit presently has an average rating of “Hold” and an average price target of $278.21.

Shares of NASDAQ:INTU traded down $2.50 during trading hours on Wednesday, hitting $256.85. The stock had a trading volume of 1,357,200 shares, compared to its average volume of 1,389,052. The stock’s fifty day simple moving average is $262.77 and its 200 day simple moving average is $264.79. Intuit has a 1-year low of $182.61 and a 1-year high of $295.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $65.84 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 2.47 and a beta of 1.10.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.37. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The firm had revenue of $994.00 million during the quarter, compared to analyst estimates of $964.02 million. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue was up 15.0% on a year-over-year basis. As a group, research analysts anticipate that Intuit will post 6.3 EPS for the current year.

In other news, SVP Jeffrey David Ayers sold 39,689 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $17.15, for a total transaction of $680,666.35. Also, Chairman Scott D. Cook sold 133,333 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $278.53, for a total transaction of $37,137,240.49. The disclosure for this sale can be found here. Insiders have sold a total of 285,279 shares of company stock worth $68,553,645 in the last 90 days. 4.60% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Intuit by 2.5% in the 2nd quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock worth $5,401,090,000 after acquiring an additional 503,291 shares during the period. Vanguard Group Inc. raised its holdings in Intuit by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,951,046 shares of the software maker’s stock worth $5,213,806,000 after acquiring an additional 305,013 shares during the period. Invesco Ltd. raised its holdings in Intuit by 96.3% in the 2nd quarter. Invesco Ltd. now owns 6,001,471 shares of the software maker’s stock worth $1,568,367,000 after acquiring an additional 2,944,291 shares during the period. Nuveen Asset Management LLC raised its holdings in Intuit by 4,951.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,988,508 shares of the software maker’s stock worth $1,303,647,000 after acquiring an additional 4,889,759 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Intuit by 28.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock worth $1,241,949,000 after acquiring an additional 1,060,033 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

See Also: Why do companies engage in swaps?

Analyst Recommendations for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.