Intuit Inc. (NASDAQ:INTU) Sees Large Increase in Short Interest
Intuit Inc. (NASDAQ:INTU) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 3,700,000 shares, a growth of 24.6% from the December 15th total of 2,970,000 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average trading volume of 1,320,000 shares, the days-to-cover ratio is currently 2.8 days.
Shares of NASDAQ:INTU traded down $3.36 during trading hours on Tuesday, hitting $272.68. The company’s stock had a trading volume of 1,194,351 shares, compared to its average volume of 1,150,635. Intuit has a 52 week low of $205.38 and a 52 week high of $295.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $71.85 billion, a price-to-earnings ratio of 48.87, a P/E/G ratio of 2.78 and a beta of 1.06. The firm’s fifty day moving average price is $263.21 and its 200 day moving average price is $268.44.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $0.41 EPS for the quarter, beating the consensus estimate of $0.25 by $0.16. Intuit had a net margin of 22.79% and a return on equity of 42.04%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that Intuit will post 6.31 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $300.00 price objective on shares of Intuit in a report on Thursday, January 2nd. ValuEngine lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Intuit from $260.00 to $290.00 and gave the company an “equal weight” rating in a report on Monday. BidaskClub upgraded shares of Intuit from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating and set a $280.00 price objective for the company. in a report on Monday, December 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Intuit currently has a consensus rating of “Hold” and an average price target of $283.33.
In other news, Chairman Scott D. Cook sold 112,022 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $266.16, for a total value of $29,815,775.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Brad D. Smith sold 227,450 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $257.72, for a total transaction of $58,618,414.00. Following the completion of the sale, the chairman now owns 549,985 shares of the company’s stock, valued at approximately $141,742,134.20. The disclosure for this sale can be found here. Insiders sold a total of 527,369 shares of company stock valued at $136,763,551 in the last 90 days. Company insiders own 4.09% of the company’s stock.
Large investors have recently bought and sold shares of the company. West Oak Capital LLC bought a new stake in shares of Intuit in the 3rd quarter valued at about $27,000. NewSquare Capital LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $42,000. Doyle Wealth Management bought a new stake in shares of Intuit in the 2nd quarter valued at about $52,000. Cerebellum GP LLC purchased a new position in shares of Intuit in the 3rd quarter worth approximately $32,000. Finally, Massey Quick Simon & CO. LLC grew its position in shares of Intuit by 4,200.0% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 215 shares of the software maker’s stock worth $57,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.
Intuit Company Profile
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.
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