Intuit Inc. (NASDAQ:INTU – Get Rating) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,850,000 shares, a decline of 12.3% from the November 15th total of 2,110,000 shares. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is currently 1.0 days. Currently, 0.7% of the company’s stock are sold short.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on INTU shares. Jefferies Financial Group dropped their target price on Intuit from $575.00 to $525.00 in a research report on Wednesday, November 30th. Piper Sandler dropped their target price on Intuit from $553.00 to $459.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 30th. KeyCorp dropped their target price on Intuit from $450.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, November 28th. Credit Suisse Group started coverage on Intuit in a research report on Monday, November 21st. They issued an “outperform” rating and a $500.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered Intuit from an “overweight” rating to a “neutral” rating and set a $360.00 price target on the stock. in a research report on Monday, October 3rd. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $496.58.
Intuit Stock Performance
NASDAQ:INTU opened at $384.98 on Friday. The stock has a fifty day moving average price of $397.78 and a 200-day moving average price of $412.48. The company has a market cap of $108.15 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.96 and a beta of 1.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.37 and a current ratio of 1.37. Intuit has a fifty-two week low of $339.36 and a fifty-two week high of $658.84.
Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings results on Tuesday, November 29th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.49. Intuit had a return on equity of 14.31% and a net margin of 14.10%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. As a group, equities analysts anticipate that Intuit will post 8.95 EPS for the current fiscal year.
Intuit Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 18th. Stockholders of record on Tuesday, January 10th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, January 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.81%. Intuit’s dividend payout ratio (DPR) is currently 47.49%.
Insider Activity
In other news, EVP James Alexander Chriss sold 1,545 shares of Intuit stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $407.89, for a total transaction of $630,190.05. Following the transaction, the executive vice president now owns 344 shares in the company, valued at approximately $140,314.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James Alexander Chriss sold 1,545 shares of Intuit stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $407.89, for a total transaction of $630,190.05. Following the transaction, the executive vice president now owns 344 shares in the company, valued at approximately $140,314.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 400 shares of Intuit stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $416.01, for a total value of $166,404.00. Following the transaction, the chief accounting officer now owns 2,067 shares in the company, valued at approximately $859,892.67. The disclosure for this sale can be found here. Insiders have sold 2,489 shares of company stock worth $1,019,634 in the last 90 days. Corporate insiders own 3.18% of the company’s stock.
Hedge Funds Weigh In On Intuit
Institutional investors have recently modified their holdings of the business. Perigon Wealth Management LLC increased its holdings in Intuit by 2.1% in the 3rd quarter. Perigon Wealth Management LLC now owns 2,306 shares of the software maker’s stock worth $893,000 after purchasing an additional 47 shares in the last quarter. Toroso Investments LLC increased its holdings in Intuit by 3.5% in the 3rd quarter. Toroso Investments LLC now owns 4,585 shares of the software maker’s stock worth $1,776,000 after purchasing an additional 157 shares in the last quarter. CVA Family Office LLC increased its holdings in Intuit by 78.0% in the 3rd quarter. CVA Family Office LLC now owns 616 shares of the software maker’s stock worth $239,000 after purchasing an additional 270 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Intuit by 96.2% in the 3rd quarter. IHT Wealth Management LLC now owns 1,087 shares of the software maker’s stock worth $421,000 after purchasing an additional 533 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Intuit by 4.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 8,985 shares of the software maker’s stock worth $3,480,000 after purchasing an additional 360 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.
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 ProConnect.