Intuit (NASDAQ:INTU) Stock Rating Lowered by BNP Paribas

Intuit (NASDAQ:INTU) was downgraded by equities research analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a report issued on Wednesday,Finviz reports. They currently have a $530.00 target price on the software maker’s stock. BNP Paribas’ price objective points to a potential downside of 15.04% from the stock’s previous close.

Several other equities analysts have also weighed in on INTU. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

Intuit stock opened at $623.80 on Wednesday. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. The company’s 50 day moving average price is $649.57 and its two-hundred day moving average price is $637.71. The stock has a market cap of $174.61 billion, a P/E ratio of 60.56, a P/E/G ratio of 3.24 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the company posted $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Intuit will post 14.07 earnings per share for the current year.

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

A number of large investors have recently modified their holdings of INTU. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the 3rd quarter valued at $27,000. Denver PWM LLC purchased a new stake in Intuit during the third quarter valued at about $32,000. Dunhill Financial LLC grew its stake in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares during the last quarter. Groupama Asset Managment lifted its stake in shares of Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after acquiring an additional 720 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Intuit during the 2nd quarter valued at about $49,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.