Intuit (NASDAQ:INTU) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday, BidAskClub reports.

INTU has been the topic of several other research reports. Citigroup increased their price target on shares of Intuit from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Bank of America increased their price target on shares of Intuit from $264.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp increased their price target on shares of Intuit from $300.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Credit Suisse Group increased their price target on shares of Intuit from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $277.00.

Shares of INTU traded down $0.89 during mid-day trading on Wednesday, hitting $267.36. 27,126 shares of the company traded hands, compared to its average volume of 1,411,468. Intuit has a 1-year low of $182.61 and a 1-year high of $295.77. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $69.59 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. The business has a 50 day moving average of $278.51 and a 200 day moving average of $262.64.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.37. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The company had revenue of $994.00 million for the quarter, compared to the consensus estimate of $964.02 million. During the same quarter in the prior year, the company earned $0.32 EPS. Intuit’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts expect that Intuit will post 6.3 EPS for the current fiscal year.

In other news, Chairman Scott D. Cook sold 133,333 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $278.53, for a total transaction of $37,137,240.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Scott D. Cook sold 133,334 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total value of $35,049,508.58. The disclosure for this sale can be found here. Insiders have sold a total of 303,422 shares of company stock worth $82,506,746 in the last quarter. Insiders own 4.60% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in 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 in the last quarter. FMR LLC lifted its holdings in Intuit by 10.0% in the 1st quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock valued at $2,671,557,000 after purchasing an additional 930,221 shares in the last quarter. Capital Advisors Inc. OK lifted its holdings in Intuit by 123.3% in the 2nd quarter. Capital Advisors Inc. OK now owns 46,718 shares of the software maker’s stock valued at $12,209,000 after purchasing an additional 25,797 shares in the last quarter. Barbara Oil Co. purchased a new position in Intuit in the 1st quarter valued at $209,000. Finally, Neuburgh Advisers LLC lifted its holdings in Intuit by 6.3% in the 2nd quarter. Neuburgh Advisers LLC now owns 49,436 shares of the software maker’s stock valued at $12,919,000 after purchasing an additional 2,924 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Intuit Company Profile

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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Analyst Recommendations for Intuit (NASDAQ:INTU)

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