Intuit (NASDAQ:INTU) Downgraded to “Underperform” Rating by BNP Paribas

BNP Paribas cut shares of Intuit (NASDAQ:INTU) from a neutral rating to an underperform rating in a research note published on Wednesday morning, Marketbeat reports. They currently have $530.00 target price on the software maker’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Finally, Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Trading Down 0.4 %

NASDAQ INTU opened at $621.45 on Wednesday. Intuit has a twelve month low of $557.29 and a twelve month high of $714.78. 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 stock has a market cap of $173.96 billion, a price-to-earnings ratio of 60.33, a PEG ratio of 3.07 and a beta of 1.25. The firm’s 50 day moving average price is $649.57 and its two-hundred day moving average price is $637.71.

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

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuit

Large investors have recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the third quarter worth $27,000. Denver PWM LLC acquired a new stake in shares of Intuit during the third quarter worth $32,000. Dunhill Financial LLC increased its position in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the period. Groupama Asset Managment increased its position in shares of Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after buying an additional 720 shares during the period. Finally, Kimelman & Baird LLC acquired a new stake in shares of Intuit during the second quarter worth $49,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.