Intuit Inc. (NASDAQ:INTU) Short Interest Up 26.5% in April


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Intuit Inc. (NASDAQ:INTU) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,910,000 shares, a growth of 26.5% from the March 31st total of 2,300,000 shares. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is currently 2.1 days.

In related news, CFO Michelle M. Clatterbuck sold 2,253 shares of the firm’s stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $403.51, for a total transaction of $909,108.03. Following the transaction, the chief financial officer now owns 4,293 shares in the company, valued at $1,732,268.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Alexander Chriss sold 364 shares of the firm’s stock in a transaction that occurred on Thursday, February 25th. The shares were sold at an average price of $407.38, for a total transaction of $148,286.32. Following the transaction, the executive vice president now owns 221 shares in the company, valued at approximately $90,030.98. The disclosure for this sale can be found here. 3.38% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in INTU. Nvwm LLC lifted its position in Intuit by 0.8% during the 4th quarter. Nvwm LLC now owns 3,220 shares of the software maker’s stock worth $1,223,000 after acquiring an additional 26 shares during the last quarter. RiverFront Investment Group LLC lifted its position in Intuit by 4.6% during the 1st quarter. RiverFront Investment Group LLC now owns 587 shares of the software maker’s stock worth $225,000 after acquiring an additional 26 shares during the last quarter. Private Capital Group LLC lifted its position in Intuit by 8.6% during the 4th quarter. Private Capital Group LLC now owns 340 shares of the software maker’s stock worth $129,000 after acquiring an additional 27 shares during the last quarter. Glassman Wealth Services lifted its position in Intuit by 21.1% during the 4th quarter. Glassman Wealth Services now owns 161 shares of the software maker’s stock worth $61,000 after acquiring an additional 28 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its position in Intuit by 4.2% during the 1st quarter. AdvisorNet Financial Inc now owns 695 shares of the software maker’s stock worth $266,000 after acquiring an additional 28 shares during the last quarter. 84.79% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:INTU traded down $13.72 during trading on Tuesday, reaching $397.62. 1,210,342 shares of the company traded hands, compared to its average volume of 1,357,685. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.39. Intuit has a 1-year low of $269.54 and a 1-year high of $423.74. The firm has a fifty day simple moving average of $400.43 and a 200 day simple moving average of $377.24. The firm has a market cap of $108.88 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, February 23rd. The software maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.55. Intuit had a net margin of 25.10% and a return on equity of 40.29%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Intuit’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Intuit will post 5.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 19th. Investors of record on Monday, April 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, April 9th. Intuit’s payout ratio is presently 35.98%.

INTU has been the topic of several recent research reports. UBS Group lifted their price target on shares of Intuit from $375.00 to $407.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 2nd. Credit Suisse Group restated an “outperform” rating and issued a $460.00 price target on shares of Intuit in a research report on Monday, March 22nd. Zacks Investment Research upgraded shares of Intuit from a “strong sell” rating to a “hold” rating and set a $418.00 price target on the stock in a research report on Monday, March 1st. Stifel Nicolaus lifted their price target on shares of Intuit from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, March 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of Intuit in a research report on Friday, January 22nd. They issued a “neutral” rating and a $430.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $431.65.

About Intuit

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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