Intuit Inc. (NASDAQ:INTU) Short Interest Down 7.7% in May

Intuit Inc. (NASDAQ:INTU) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 2,510,000 shares, a decline of 7.7% from the April 30th total of 2,720,000 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 1,740,000 shares, the short-interest ratio is presently 1.4 days.

A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Intuit from $272.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada raised their target price on Intuit from $280.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $265.00 price target on the stock in a research note on Monday, April 13th. KeyCorp increased their price objective on Intuit from $285.00 to $315.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Mizuho lifted their target price on Intuit from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $306.00.

Hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Intuit during the fourth quarter worth about $610,762,000. Private Advisor Group LLC raised its holdings in Intuit by 100.8% in the fourth quarter. Private Advisor Group LLC now owns 11,928 shares of the software maker’s stock valued at $3,124,000 after acquiring an additional 1,451,166 shares in the last quarter. Sands Capital Management LLC lifted its stake in Intuit by 53.3% in the fourth quarter. Sands Capital Management LLC now owns 3,400,292 shares of the software maker’s stock worth $890,638,000 after acquiring an additional 1,181,976 shares during the last quarter. Edgewood Management LLC grew its holdings in Intuit by 21.6% during the 1st quarter. Edgewood Management LLC now owns 5,973,509 shares of the software maker’s stock worth $1,373,907,000 after acquiring an additional 1,059,259 shares in the last quarter. Finally, Findlay Park Partners LLP increased its position in shares of Intuit by 253.5% in the 4th quarter. Findlay Park Partners LLP now owns 1,406,788 shares of the software maker’s stock valued at $368,480,000 after purchasing an additional 1,008,788 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors.

Shares of NASDAQ INTU traded down $2.39 during midday trading on Friday, reaching $287.61. 1,738,172 shares of the stock were exchanged, compared to its average volume of 1,095,271. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.10. The firm has a market cap of $75.54 billion, a price-to-earnings ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05. The firm has a 50-day simple moving average of $262.98 and a two-hundred day simple moving average of $266.23. Intuit has a twelve month low of $187.68 and a twelve month high of $306.89.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.60 by ($0.11). The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3 billion. Intuit had a return on equity of 34.27% and a net margin of 19.50%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the business earned $5.55 earnings per share. Research analysts expect that Intuit will post 5.85 EPS for the current fiscal year.

About Intuit

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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