Intuit (NASDAQ:INTU) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Intuit (NASDAQ:INTU) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, Marketbeat.com reports. They currently have $730.00 target price on the software maker’s stock.

INTU has been the topic of several other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating 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. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Finally, Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $723.76.

Intuit Stock Performance

NASDAQ INTU opened at $625.51 on Wednesday. The company has a market cap of $175.09 billion, a P/E ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit has a 1-year low of $553.24 and a 1-year high of $714.78. 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 stock has a 50-day moving average of $607.22 and a two-hundred day moving average of $627.53.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock worth $140,855,687 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Intuit during the 4th quarter worth $2,290,419,000. Proficio Capital Partners LLC boosted its stake in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after buying an additional 771,232 shares during the period. Wellington Management Group LLP grew its holdings in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Finally, Unisphere Establishment increased its position in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after acquiring an additional 500,000 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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.