BidaskClub Downgrades Intuit (NASDAQ:INTU) to Sell
A number of other equities research analysts have also recently weighed in on the company. Argus set a $325.00 price target on Intuit and gave the stock a “buy” rating in a report on Monday, August 26th. Barclays lifted their price objective on Intuit from $245.00 to $276.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Credit Suisse Group boosted their target price on Intuit from $265.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $279.00 target price on the stock in a report on Wednesday, November 27th. Finally, UBS Group upped their target price on Intuit from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $277.58.
Shares of NASDAQ INTU traded up $1.25 during midday trading on Wednesday, hitting $255.50. The company had a trading volume of 339,426 shares, compared to its average volume of 1,403,078. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.18. Intuit has a twelve month low of $182.61 and a twelve month high of $295.77. The business has a 50-day simple moving average of $260.10 and a two-hundred day simple moving average of $266.35. The firm has a market capitalization of $67.39 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.
In other news, EVP James Alexander Chriss sold 21,543 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $258.78, for a total transaction of $5,574,897.54. Following the completion of the sale, the executive vice president now directly owns 126 shares in the company, valued at $32,606.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Brad D. Smith sold 227,450 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $257.72, for a total transaction of $58,618,414.00. Following the completion of the transaction, the chairman now directly owns 549,985 shares of the company’s stock, valued at approximately $141,742,134.20. The disclosure for this sale can be found here. Insiders sold 590,467 shares of company stock worth $146,383,892 over the last 90 days. Company insiders own 4.09% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Intuit by 58.2% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 76,721 shares of the software maker’s stock valued at $20,049,000 after purchasing an additional 28,226 shares during the last quarter. Capital Advisors Inc. OK boosted its holdings in Intuit by 123.3% in the second quarter. Capital Advisors Inc. OK now owns 46,718 shares of the software maker’s stock valued at $12,209,000 after acquiring an additional 25,797 shares during the last quarter. Neuburgh Advisers LLC boosted its holdings in Intuit by 6.3% in the second quarter. Neuburgh Advisers LLC now owns 49,436 shares of the software maker’s stock valued at $12,919,000 after acquiring an additional 2,924 shares during the last quarter. Asset Advisors Investment Management LLC boosted its holdings in Intuit by 1.9% in the third quarter. Asset Advisors Investment Management LLC now owns 86,695 shares of the software maker’s stock valued at $23,056,000 after acquiring an additional 1,640 shares during the last quarter. Finally, ARK Investment Management LLC grew its position in Intuit by 35.3% during the second quarter. ARK Investment Management LLC now owns 8,312 shares of the software maker’s stock valued at $2,172,000 after acquiring an additional 2,169 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.
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.
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