Intuit Inc. (NASDAQ:INTU) Short Interest Down 16.1% in March

Intuit Inc. (NASDAQ:INTU) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 3,910,000 shares, a decrease of 16.1% from the March 15th total of 4,660,000 shares. Based on an average trading volume of 1,970,000 shares, the short-interest ratio is presently 2.0 days. Approximately 1.4% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently bought and sold shares of INTU. R Squared Ltd purchased a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Copia Wealth Management acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its position in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the fourth quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter worth $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU stock traded down $14.51 during trading hours on Monday, reaching $570.87. The company had a trading volume of 150,105 shares, compared to its average volume of 1,569,833. Intuit has a 12-month low of $532.65 and a 12-month high of $714.78. The company has a market capitalization of $159.59 billion, a price-to-earnings ratio of 55.46, a PEG ratio of 2.85 and a beta of 1.25. 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 fifty day moving average of $592.03 and a 200-day moving average of $616.64.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.73%. Intuit’s payout ratio is currently 38.81%.

Analyst Ratings Changes

A number of equities research analysts recently commented on INTU shares. Citigroup decreased their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $600.00 to $700.00 in a research report on Thursday. Oppenheimer reduced their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $718.56.

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.