Intuit (NASDAQ:INTU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Intuit’s fiscal Q4 results were driven by impressive growth across its Small Business and Self-Employed, and Consumer Tax segments. Intuit is benefiting from frequent product refreshes, which help it to gain customers. It witnessed solid growth in QuickBooks Online subscriber base. TurboTax Live offering also is likely to be a tailwind to the Consumer tax business. Moreover, the company’s strategy of shifting its business to cloud-based subscription model will help generate more stable revenues over the long run. Intuit’s shares have outperformed the industry on a year-to-date basis. However, high costs and expenses remain a major concern. Competition from companies like Microsoft also increases pricing pressure. Again, due to the business being seasonal, Intuit is exposed to significant operational risks.”

Several other brokerages have also recently weighed in on INTU. Credit Suisse Group lifted their price objective on shares of Intuit from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Stifel Nicolaus upgraded shares of Intuit from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $197.00 to $240.00 in a research note on Monday, June 18th. Wells Fargo & Co set a $215.00 price objective on shares of Intuit and gave the stock an “outperform” rating in a research note on Wednesday, May 23rd. BidaskClub upgraded shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. Finally, Guggenheim initiated coverage on shares of Intuit in a research note on Tuesday, August 7th. They issued a “buy” rating and a $250.00 price objective for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. Intuit presently has a consensus rating of “Hold” and a consensus price target of $212.39.

Shares of INTU stock opened at $218.63 on Wednesday. The stock has a market cap of $54.39 billion, a P/E ratio of 48.26, a P/E/G ratio of 2.52 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.16. Intuit has a 52 week low of $136.75 and a 52 week high of $219.46.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.09. Intuit had a net margin of 20.31% and a return on equity of 67.39%. The business had revenue of $988.00 million during the quarter, compared to analysts’ expectations of $952.67 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s revenue was up 17.3% on a year-over-year basis. research analysts forecast that Intuit will post 5.24 EPS for the current year.

In other news, EVP Henry Tayloe Stansbury sold 3,941 shares of the business’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $202.21, for a total value of $796,909.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Scott D. Cook sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $208.12, for a total transaction of $20,812,000.00. The disclosure for this sale can be found here. Insiders sold a total of 339,891 shares of company stock valued at $71,340,211 over the last 90 days. Corporate insiders own 5.59% of the company’s stock.

Large investors have recently modified their holdings of the company. Dynamic Advisor Solutions LLC increased its position in Intuit by 4.2% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,480 shares of the software maker’s stock worth $1,325,000 after purchasing an additional 262 shares in the last quarter. Zacks Investment Management increased its position in Intuit by 0.4% during the 2nd quarter. Zacks Investment Management now owns 60,914 shares of the software maker’s stock worth $12,445,000 after purchasing an additional 264 shares in the last quarter. Global Financial Private Capital LLC increased its position in Intuit by 7.8% during the 2nd quarter. Global Financial Private Capital LLC now owns 3,725 shares of the software maker’s stock worth $761,000 after purchasing an additional 271 shares in the last quarter. Creative Planning increased its position in Intuit by 3.1% during the 2nd quarter. Creative Planning now owns 9,185 shares of the software maker’s stock worth $1,877,000 after purchasing an additional 275 shares in the last quarter. Finally, Traynor Capital Management Inc. increased its position in Intuit by 20.4% during the 1st quarter. Traynor Capital Management Inc. now owns 1,659 shares of the software maker’s stock worth $287,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 87.73% of the company’s stock.

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 and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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