Intuit Inc. (INTU) Sets New 12-Month High at $113.29
Intuit Inc. (NASDAQ:INTU) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $113.29 and last traded at $113.24, with a volume of 621,285 shares changing hands. The stock had previously closed at $112.74.
INTU has been the subject of several research reports. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, March 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $105.00 price target on shares of Intuit in a research report on Friday, April 1st. Brean Capital assumed coverage on shares of Intuit in a research report on Thursday, April 14th. They issued a “buy” rating and a $125.00 price target for the company. Credit Suisse Group AG assumed coverage on shares of Intuit in a research report on Thursday, April 21st. They issued a “neutral” rating and a $100.00 price target for the company. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Intuit in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $109.50.
The firm has a 50 day moving average price of $107.43 and a 200-day moving average price of $100.85. The firm has a market cap of $29.23 billion and a PE ratio of 29.85.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, May 24th. The company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.22. During the same period in the previous year, the company earned $2.85 EPS. The company had revenue of $2.30 billion for the quarter. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post $3.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Tuesday, July 12th will be given a $0.30 dividend. The ex-dividend date is Friday, July 8th. This represents a $1.20 annualized dividend and a yield of 1.05%.
In related news, CAO Mark J. Flournoy sold 10,627 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $107.30, for a total value of $1,140,277.10. Following the completion of the sale, the chief accounting officer now owns 2,679 shares in the company, valued at approximately $287,456.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 2,787 shares of the company’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $103.86, for a total transaction of $289,457.82. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new stake in Intuit during the fourth quarter valued at approximately $1,044,000. Sawtooth Asset Management Inc. increased its stake in Intuit by 996.1% in the fourth quarter. Sawtooth Asset Management Inc. now owns 11,542 shares of the company’s stock valued at $1,114,000 after buying an additional 10,489 shares during the period. DG Capital Management Inc. increased its stake in Intuit by 21.3% in the fourth quarter. DG Capital Management Inc. now owns 12,260 shares of the company’s stock valued at $1,183,000 after buying an additional 2,150 shares during the period. Bailard Inc. acquired a new stake in Intuit during the fourth quarter valued at approximately $1,418,000. Finally, Quantitative Investment Management LLC acquired a new stake in Intuit during the fourth quarter valued at approximately $1,582,000.
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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