Intuit Inc. (NASDAQ:INTU) Short Interest Update

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

A number of research analysts recently commented on INTU shares. Credit Suisse Group increased their price target on shares of Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. UBS Group increased their price objective on shares of Intuit from $285.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Jefferies Financial Group increased their price objective on shares of Intuit from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada increased their price objective on shares of Intuit from $280.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Guggenheim reiterated a “” rating and set a $320.00 price target (up previously from $300.00) on shares of Intuit in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $306.00.

INTU stock traded down $2.39 during trading on Friday, hitting $287.61. 1,738,172 shares of the company’s stock traded hands, compared to its average volume of 1,095,271. The firm has a market capitalization of $75.54 billion, a P/E ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05. The business has a fifty day simple moving average of $262.98 and a two-hundred day simple moving average of $266.23. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.10. Intuit has a 1 year low of $187.68 and a 1 year high of $306.89.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($0.11). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3 billion. Intuit had a net margin of 19.50% and a return on equity of 34.27%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.55 earnings per share. On average, equities research analysts predict that Intuit will post 5.85 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mission Wealth Management LP increased its stake in shares of Intuit by 41.2% during the fourth quarter. Mission Wealth Management LP now owns 1,440 shares of the software maker’s stock worth $377,000 after purchasing an additional 420 shares in the last quarter. NEXT Financial Group Inc increased its stake in Intuit by 3.0% during the 4th quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock worth $346,000 after buying an additional 38 shares during the period. RFG Advisory LLC purchased a new stake in Intuit during the 4th quarter worth approximately $303,000. Exchange Traded Concepts LLC purchased a new stake in Intuit during the 4th quarter worth approximately $806,000. Finally, DAVENPORT & Co LLC increased its position in shares of Intuit by 0.3% in the 4th quarter. DAVENPORT & Co LLC now owns 135,975 shares of the software maker’s stock valued at $35,616,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

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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