Traders sold shares of Intuit Inc. (NASDAQ:INTU) on strength during trading on Tuesday. $60.32 million flowed into the stock on the tick-up and $105.69 million flowed out of the stock on the tick-down, for a money net flow of $45.37 million out of the stock. Of all stocks tracked, Intuit had the 8th highest net out-flow for the day. Intuit traded up $0.35 for the day and closed at $177.68
A number of research analysts recently issued reports on INTU shares. Barclays increased their price objective on Intuit from $135.00 to $157.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 15th. Royal Bank of Canada increased their price objective on Intuit from $141.00 to $160.00 and gave the stock a “sector perform” rating in a report on Thursday, November 16th. Jefferies Group restated a “buy” rating and issued a $185.00 price target on shares of Intuit in a research note on Tuesday, November 21st. Citigroup raised their price target on Intuit to $170.00 in a research note on Tuesday, November 21st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $148.00 price target on shares of Intuit in a research note on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $167.05.
The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $45,375.21, a P/E ratio of 48.81, a P/E/G ratio of 2.70 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Tuesday, April 10th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.56 annualized dividend and a dividend yield of 0.88%. Intuit’s dividend payout ratio is currently 42.86%.
In other news, Chairman Scott D. Cook sold 112,731 shares of Intuit stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $160.97, for a total transaction of $18,146,309.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of Intuit stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $158.94, for a total value of $342,992.52. Following the transaction, the executive vice president now owns 3,050 shares of the company’s stock, valued at $484,767. The disclosure for this sale can be found here. Insiders have sold a total of 728,049 shares of company stock valued at $121,193,430 over the last quarter. 5.59% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INTU. Ark Investment Management LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $2,276,000. Alps Advisors Inc. acquired a new stake in Intuit during the 3rd quarter worth approximately $538,000. Global X MANAGEMENT CO LLC lifted its holdings in Intuit by 47.5% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 13,793 shares of the software maker’s stock worth $1,961,000 after purchasing an additional 4,440 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Intuit by 11.4% during the 3rd quarter. Toronto Dominion Bank now owns 96,959 shares of the software maker’s stock worth $13,783,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Intuit by 1.5% during the 3rd quarter. Rhumbline Advisers now owns 420,907 shares of the software maker’s stock worth $59,828,000 after purchasing an additional 6,170 shares during the last quarter. Institutional investors own 87.15% of the company’s stock.
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Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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