Intuit (NASDAQ:INTU) Rating Lowered to “Underperform” at BNP Paribas

Intuit (NASDAQ:INTU) was downgraded by stock analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $530.00 price objective on the software maker’s stock. BNP Paribas’ target price would suggest a potential downside of 12.73% from the company’s previous close.

INTU has been the subject of a number of other reports. 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 target price for the company. Oppenheimer raised their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

Shares of INTU stock opened at $607.29 on Wednesday. The company has a market cap of $169.99 billion, a P/E ratio of 58.96, a PEG ratio of 3.07 and a beta of 1.25. The business has a 50 day moving average of $649.03 and a two-hundred day moving average of $637.60. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. 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 data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. As a group, analysts anticipate that Intuit will post 14.09 EPS for the current year.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have 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

Large investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the third quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new position in Intuit in the 4th quarter worth about $29,000. Denver PWM LLC purchased a new stake in shares of Intuit during the 3rd quarter worth about $32,000. Dunhill Financial LLC lifted its holdings in shares of Intuit by 110.3% during the 3rd 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. Finally, Groupama Asset Managment grew 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 buying an additional 720 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.