Morgan Stanley Upgrades Intuit (INTU) to Equal Weight

Intuit (NASDAQ:INTU) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report issued on Monday, February 4th, MarketBeat.com reports. The brokerage presently has a $225.00 price target on the software maker’s stock. Morgan Stanley’s target price would indicate a potential downside of 10.15% from the company’s current price.

INTU has been the subject of a number of other reports. Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. BidaskClub lowered Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. KeyCorp started coverage on Intuit in a research note on Tuesday, December 18th. They issued an “overweight” rating and a $250.00 target price for the company. Argus cut their target price on Intuit from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, November 21st. Finally, Royal Bank of Canada cut Intuit from an “outperform” rating to a “sector perform” rating and set a $197.05 price target on the stock. in a research report on Sunday, December 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $228.16.

NASDAQ:INTU traded up $3.28 on Monday, hitting $250.41. 1,863,583 shares of the company’s stock traded hands, compared to its average volume of 1,436,176. The stock has a market cap of $65.12 billion, a PE ratio of 55.28, a price-to-earnings-growth ratio of 2.93 and a beta of 1.16. Intuit has a 1 year low of $162.59 and a 1 year high of $252.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.41 and a quick ratio of 1.41.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 21st. The software maker reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.44. Intuit had a return on equity of 55.29% and a net margin of 22.89%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Intuit will post 5.28 earnings per share for the current year.

In other Intuit news, EVP Henry Tayloe Stansbury sold 3,650 shares of the firm’s stock in a transaction on Friday, December 21st. The shares were sold at an average price of $188.94, for a total value of $689,631.00. Following the completion of the transaction, the executive vice president now owns 3,383 shares of the company’s stock, valued at $639,184.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dennis D. Powell sold 4,083 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $248.96, for a total transaction of $1,016,503.68. Following the completion of the transaction, the director now directly owns 3,550 shares of the company’s stock, valued at approximately $883,808. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,656 shares of company stock valued at $1,934,208. 4.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Parsons Capital Management Inc. RI raised its position in Intuit by 0.3% in the 4th quarter. Parsons Capital Management Inc. RI now owns 17,091 shares of the software maker’s stock valued at $3,364,000 after purchasing an additional 48 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Intuit by 4.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,055 shares of the software maker’s stock valued at $208,000 after purchasing an additional 48 shares during the period. CWM LLC raised its stake in shares of Intuit by 20.0% during the fourth quarter. CWM LLC now owns 336 shares of the software maker’s stock valued at $66,000 after purchasing an additional 56 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Intuit by 16.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock valued at $77,000 after purchasing an additional 56 shares during the period. Finally, Whittier Trust Co. raised its stake in shares of Intuit by 1.9% during the fourth quarter. Whittier Trust Co. now owns 2,941 shares of the software maker’s stock valued at $579,000 after purchasing an additional 56 shares during the period. 87.66% of the stock is owned by institutional investors and hedge funds.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Further Reading: Bid-Ask Spread

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