Intuit Inc. (NASDAQ:INTU) Short Interest Update

Intuit Inc. (NASDAQ:INTU) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,030,000 shares, an increase of 42.5% from the February 13th total of 3,530,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Ratings Changes

Several research firms have recently issued reports on INTU. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research note on Wednesday, February 26th. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank dropped their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Buying and Selling at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,301 shares of company stock valued at $121,470,200. 2.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INTU. Kovack Advisors Inc. grew its stake in Intuit by 4.8% during the 3rd quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock worth $244,000 after buying an additional 18 shares during the last quarter. Impax Asset Management Group plc grew its stake in Intuit by 27.2% during the 3rd quarter. Impax Asset Management Group plc now owns 22,248 shares of the software maker’s stock worth $13,816,000 after buying an additional 4,759 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its stake in shares of Intuit by 2.1% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,390 shares of the software maker’s stock worth $863,000 after purchasing an additional 28 shares in the last quarter. Mizuho Securities USA LLC grew its stake in shares of Intuit by 6.6% in the third quarter. Mizuho Securities USA LLC now owns 23,001 shares of the software maker’s stock worth $14,284,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Intuit by 5.2% in the third quarter. Natixis Advisors LLC now owns 404,536 shares of the software maker’s stock worth $251,216,000 after purchasing an additional 19,854 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 0.6 %

Shares of NASDAQ:INTU opened at $602.11 on Tuesday. Intuit has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $168.33 billion, a P/E ratio of 58.46, a PEG ratio of 2.85 and a beta of 1.27. The stock has a 50-day simple moving average of $597.76 and a 200-day simple moving average of $623.51.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

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 ProTax.