Intuit (NASDAQ:INTU) Upgraded by Morgan Stanley to “Overweight” Rating

Intuit (NASDAQ:INTU) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $730.00 price objective on the software maker’s stock. Morgan Stanley’s price target would indicate a potential upside of 21.58% from the company’s current price.

INTU has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $717.88.

Intuit Stock Performance

NASDAQ:INTU opened at $600.42 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $168.07 billion, a PE ratio of 58.29, a P/E/G ratio of 2.85 and a beta of 1.24. The firm has a 50 day simple moving average of $606.49 and a 200-day simple moving average of $627.35. Intuit has a 1-year low of $553.24 and a 1-year high of $714.78.

Insider Activity

In other news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. State Street Corp raised its position in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.