Intuit Sees Large Decline in Short Interest (INTU)
Intuit (NASDAQ:INTU) was the recipient of a significant drop in short interest in May. As of May 30th, there was short interest totalling 7,148,697 shares, a drop of 22.2% from the May 15th total of 9,193,581 shares, Analyst Ratings Network.com reports. Based on an average trading volume of 2,077,041 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.6% of the shares of the stock are short sold.
In other Intuit news, Director Johnson Suzanne M. Nora sold 75,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $78.91, for a total transaction of $5,918,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Intuit in a research note on Wednesday, May 28th. They now have a $84.00 price target on the stock, up previously from $77.00. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Intuit in a research note on Thursday, May 22nd. They now have a $66.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Intuit to $80.00 in a research note on Wednesday, May 21st. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $78.23.
Intuit (NASDAQ:INTU) opened at 78.91 on Tuesday. Intuit has a one year low of $56.74 and a one year high of $82.40. The stock has a 50-day moving average of $77.34 and a 200-day moving average of $76.24. The company has a market cap of $22.401 billion and a P/E ratio of 25.21.
Intuit (NASDAQ:INTU) last released its earnings data on Tuesday, May 20th. The company reported $3.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.50 by $0.03. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $2.97 earnings per share. Intuit’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that Intuit will post $3.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Tuesday, July 8th.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.
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