Intuit (INTU) is Downgraded by Morgan Stanley to Underweight

Intuit (INTU) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on Intuit. Shares were Reiterated by RBC Capital Mkts on Aug 24, 2016 to “Sector Perform” and Lowered the Price Target to $ 108 from a previous price target of $113 .Company shares were Reiterated by Deutsche Bank on Aug 24, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .Company shares were Reiterated by RBC Capital Mkts on Aug 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 113 from a previous price target of $93 .

On the company’s financial health, Intuit reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $-0.02. The company had revenue of $754.00 million for the quarter, compared to analysts expectations of $735.35 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Intuit opened for trading at $108.92 and hit $109.92 on the upside on Monday, eventually ending the session at $109.54, with a gain of 0.27% or 0.29 points. The heightened volatility saw the trading volume jump to 1,462,149 shares. Company has a market cap of $28,255 M.

In a different news, on Sep 12, 2016, Sasan K Goodarzi (EVP, Small Business Group) sold 18,567 shares at $110.03 per share price. According to the SEC, on Sep 7, 2016, R Neil Williams (EVP & Chief Financial Officer) sold 18,567 shares at $111.47 per share price. On Sep 7, 2016, Daniel A Wernikoff (EVP, Consumer Tax Group) sold 18,567 shares at $111.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Intuit Inc. is a provider of business and financial management solutions for small businesses consumers and accounting professionals. The Company operates through three segments: Small Business Consumer Tax and Professional Tax. The Company operates in the United States Canada India the United Kingdom Singapore and Australia among others. The Company’s Small Business segment solutions include QuickBooks Online Online Payroll solutions Online Payments solutions and Intuit Developer Group. The Company’s Small Business Desktop Ecosystem solutions include QuickBooks Desktop Payroll Solutions Desktop Payments solutions QuickBooks Technical Support and financial supplies. The Consumer Tax segment offers tax return preparation offerings electronic filing and other services and Intuit Tax Freedom Project. The Company’s professional tax offerings include Lacerte and ProSeries.

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