Intuit Inc. (NASDAQ:INTU - Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 2,990,000 shares, a drop of 13.3% from the September 15th total of 3,450,000 shares. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is currently 2.3 days.
NASDAQ:INTU traded down $6.36 during trading hours on Wednesday, hitting $611.53. 444,387 shares of the stock were exchanged, compared to its average volume of 1,322,782. Intuit has a 52-week low of $473.56 and a 52-week high of $676.62. The firm's fifty day moving average price is $631.08 and its 200 day moving average price is $627.98. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $170.95 billion, a P/E ratio of 57.00, a P/E/G ratio of 3.04 and a beta of 1.24.
Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business's revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, equities research analysts anticipate that Intuit will post 14.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit's dividend payout ratio is currently 38.38%.
A number of brokerages have commented on INTU. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Barclays lowered their price target on Intuit from $745.00 to $740.00 and set an "overweight" rating for the company in a research report on Friday, August 23rd. Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Finally, Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $735.71.
View Our Latest Analysis on Intuit
In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Sandeep Aujla sold 775 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last ninety days. 2.90% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp acquired a new position in Intuit during the second quarter worth $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.
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.
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