Intuit Inc. (NASDAQ:INTU) Short Interest Update

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Intuit Inc. (NASDAQ:INTU) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 2,330,000 shares, a decrease of 19.9% from the August 30th total of 2,910,000 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 1.8 days.

Shares of INTU stock traded up $2.54 during trading hours on Friday, reaching $270.07. 928,945 shares of the company traded hands, compared to its average volume of 1,156,430. The firm has a 50-day moving average price of $272.98 and a 200 day moving average price of $264.75. The company has a market cap of $68.66 billion, a P/E ratio of 48.40, a P/E/G ratio of 2.58 and a beta of 1.10. Intuit has a 12-month low of $182.61 and a 12-month high of $295.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.83 and a quick ratio of 1.83.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.37. The company had revenue of $994.00 million for the quarter, compared to the consensus estimate of $964.02 million. Intuit had a return on equity of 43.86% and a net margin of 22.95%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. Sell-side analysts predict that Intuit will post 6.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Wednesday, October 9th. This is an increase from Intuit’s previous quarterly dividend of $0.47. Intuit’s dividend payout ratio (DPR) is 37.99%.

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Intuit from $244.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Citigroup raised their target price on Intuit from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. UBS Group raised their target price on Intuit from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group set a $320.00 target price on Intuit and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank raised their target price on Intuit from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $277.00.

In other news, SVP Jeffrey David Ayers sold 39,689 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $17.15, for a total transaction of $680,666.35. Also, SVP Kerry J. Mclean sold 20,543 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $277.05, for a total value of $5,691,438.15. Following the sale, the senior vice president now directly owns 25,170 shares in the company, valued at $6,973,348.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 285,279 shares of company stock valued at $68,553,645. 4.60% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Camden National Bank bought a new stake in Intuit in the 3rd quarter worth approximately $213,000. Welch & Forbes LLC increased its stake in Intuit by 8.5% in the 3rd quarter. Welch & Forbes LLC now owns 5,306 shares of the software maker’s stock worth $1,411,000 after acquiring an additional 415 shares during the last quarter. Decatur Capital Management Inc. bought a new stake in Intuit in the 3rd quarter worth approximately $5,925,000. Pacer Advisors Inc. increased its stake in Intuit by 12.6% in the 3rd quarter. Pacer Advisors Inc. now owns 45,761 shares of the software maker’s stock worth $12,170,000 after acquiring an additional 5,125 shares during the last quarter. Finally, Winthrop Advisory Group LLC bought a new stake in Intuit in the 3rd quarter worth approximately $255,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

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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