Intuit (NASDAQ:INTU) Hits New 12-Month Low – Time to Sell?

Intuit Inc. (NASDAQ:INTU) shares reached a new 52-week low on Tuesday . The stock traded as low as $554.73 and last traded at $554.91, with a volume of 670332 shares changing hands. The stock had previously closed at $567.24.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.71.

Intuit Stock Performance

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 company has a market capitalization of $156.65 billion, a P/E ratio of 54.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business has a 50 day moving average of $610.15 and a 200-day moving average of $628.07.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,014 shares of company stock valued at $140,855,687. Company insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC bought a new position in Intuit during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Institutional investors 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.