Traders Buy Shares of Intuit (INTU) on Weakness
Traders purchased shares of Intuit Inc. (NASDAQ:INTU) on weakness during trading hours on Thursday. $52.05 million flowed into the stock on the tick-up and $19.02 million flowed out of the stock on the tick-down, for a money net flow of $33.03 million into the stock. Of all companies tracked, Intuit had the 10th highest net in-flow for the day. Intuit traded down ($0.51) for the day and closed at $163.00
INTU has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on Intuit from $141.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 16th. Citigroup lifted their price target on Intuit to $170.00 in a research report on Tuesday, November 21st. Raymond James Financial downgraded Intuit from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 27th. Oppenheimer lifted their target price on Intuit from $146.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $157.53.
The company has a market cap of $41,670.00, a P/E ratio of 43.12, a price-to-earnings-growth ratio of 2.95 and a beta of 1.18. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.35.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.30. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The firm had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities research analysts expect that Intuit Inc. will post 3.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Wednesday, January 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.96%. Intuit’s dividend payout ratio (DPR) is presently 41.27%.
In related news, Chairman Scott D. Cook sold 184,733 shares of Intuit stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $158.98, for a total value of $29,368,852.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 965,938 shares of company stock worth $149,469,127. Company insiders own 5.59% of the company’s stock.
Several institutional investors have recently bought and sold shares of INTU. Exane Derivatives purchased a new stake in shares of Intuit in the third quarter valued at approximately $105,000. Captrust Financial Advisors purchased a new stake in shares of Intuit in the second quarter valued at approximately $108,000. Horan Capital Advisors LLC. purchased a new stake in Intuit during the third quarter worth $114,000. Harvest Fund Management Co. Ltd purchased a new stake in Intuit during the second quarter worth $140,000. Finally, ETF Managers Group LLC purchased a new stake in Intuit during the second quarter worth $140,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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