Redburn Atlantic Begins Coverage on Intuit (NASDAQ:INTU)

Analysts at Redburn Atlantic began coverage on shares of Intuit (NASDAQ:INTU) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating on the software maker’s stock.

Several other research analysts have also recently weighed in on the stock. Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. JPMorgan Chase & Co. lifted 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. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.5 %

Shares of INTU stock opened at $579.08 on Wednesday. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $614.05 and its 200 day moving average is $628.50. The stock has a market capitalization of $162.10 billion, a P/E ratio of 56.22, a P/E/G ratio of 2.86 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. Research analysts expect that Intuit will post 14.09 earnings per share for the current year.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, 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 SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

A number of large investors have recently made changes to their positions in the business. Forum Financial Management LP increased its holdings in shares of Intuit by 29.6% in the 4th quarter. Forum Financial Management LP now owns 1,450 shares of the software maker’s stock worth $911,000 after buying an additional 331 shares during the last quarter. Baer Investment Advisory LLC bought a new stake in shares of Intuit in the 4th quarter worth about $3,261,000. Castlekeep Investment Advisors LLC bought a new stake in shares of Intuit in the 4th quarter worth about $5,135,000. Blue Sky Capital Consultants Group Inc. bought a new stake in shares of Intuit in the 4th quarter worth about $333,000. Finally, Cache Advisors LLC purchased a new position in shares of Intuit during the 4th quarter worth about $2,195,000. 83.66% of the stock is currently owned by 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.