Intuit (NASDAQ:INTU) Upgraded to Buy at HSBC

Intuit (NASDAQ:INTU - Get Free Report) was upgraded by research analysts at HSBC from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $699.00 target price on the software maker's stock. HSBC's target price suggests a potential upside of 19.78% from the company's previous close.

A number of other equities analysts have also issued reports on the company. Oppenheimer lowered their price target on Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their price target on Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $717.53.

Intuit Price Performance

INTU stock opened at $583.56 on Wednesday. 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 company has a market capitalization of $163.14 billion, a P/E ratio of 56.66, a PEG ratio of 2.85 and a beta of 1.25. The business has a 50 day simple moving average of $591.87 and a 200-day simple moving average of $616.12. Intuit has a twelve month low of $532.65 and a twelve month high of $714.78.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,696 shares of company stock valued at $14,347,731. Company insiders own 2.68% of the company's stock.

Hedge Funds Weigh In On Intuit

Hedge funds have recently made changes to their positions in the stock. Invst LLC purchased a new position in shares of Intuit in the 3rd quarter worth about $203,000. Virtu Financial LLC acquired a new position in Intuit during the third quarter valued at approximately $7,506,000. Anchor Investment Management LLC grew its stake in Intuit by 6.6% during the third quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker's stock worth $1,500,000 after buying an additional 150 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Intuit in the third quarter worth $201,000. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Intuit by 7.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker's stock worth $16,065,000 after acquiring an additional 1,721 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

About Intuit

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.

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