Intuit (NASDAQ:INTU) Coverage Initiated by Analysts at Redburn Atlantic

Stock analysts at Redburn Atlantic initiated coverage on shares of Intuit (NASDAQ:INTU - Get Free Report) in a research report issued on Wednesday, MarketBeat.com reports. The brokerage set a "neutral" rating on the software maker's stock.

Several other equities research analysts have also recently weighed in on INTU. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. Piper Sandler restated an "overweight" rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Royal Bank of Canada restated an "outperform" rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to 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

Shares of INTU stock traded down $13.61 during trading on Wednesday, hitting $565.47. The company had a trading volume of 2,006,029 shares, compared to its average volume of 1,766,552. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $158.29 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 2.87 and a beta of 1.24. The stock's 50-day moving average price is $614.05 and its 200 day moving average price is $628.50. Intuit has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts expect that Intuit will post 14.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company's stock, valued at approximately $325,664.22. The trade was 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 sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company's stock.

Institutional Trading of Intuit

Large investors have recently bought and sold shares of the business. Nordea Investment Management AB lifted its position in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in Intuit in the 4th quarter valued at about $621,000. Harvest Portfolios Group Inc. lifted its position in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock valued at $22,295,000 after acquiring an additional 1,853 shares in the last quarter. Retireful LLC purchased a new stake in Intuit in the 3rd quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit in the 3rd quarter valued at about $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.