Intuit Inc. (NASDAQ:INTU) Short Interest Update

Intuit Inc. (NASDAQ:INTU) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,450,000 shares, a growth of 9.2% from the August 31st total of 3,160,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 2.7 days.

Intuit Stock Performance

NASDAQ:INTU opened at $621.00 on Tuesday. The stock has a 50-day moving average price of $634.62 and a 200 day moving average price of $630.21. The stock has a market capitalization of $173.60 billion, a P/E ratio of 57.29, a P/E/G ratio of 3.13 and a beta of 1.24. Intuit has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data 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 net margin of 18.19% and a return on equity of 18.64%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Equities research analysts forecast that Intuit will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. Insiders have sold 51,583 shares of company stock valued at $32,975,909 over the last ninety days. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LGT Financial Advisors LLC bought a new position in shares of Intuit during the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in Intuit during the second quarter valued at $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the 2nd quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter worth about $35,000. Finally, Trifecta Capital Advisors LLC increased its holdings in shares of Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after buying an additional 35 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research report on Friday. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

About Intuit

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.