Intuit Inc. (INTU) Sees Large Volume Increase
Shares of Intuit Inc. (NASDAQ:INTU) saw an uptick in trading volume on Friday . 1,217,893 shares traded hands during trading, a decline of 26% from the previous session’s volume of 1,636,513 shares.The stock last traded at $114.85 and had previously closed at $116.39.
Several brokerages recently issued reports on INTU. Morgan Stanley restated a “hold” rating on shares of Intuit in a research note on Sunday, May 22nd. Brean Capital restated a “buy” rating on shares of Intuit in a research note on Sunday, June 26th. Barclays PLC cut Intuit from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $110.00 to $116.00 in a research note on Friday. Vetr cut Intuit from a “buy” rating to a “hold” rating and set a $108.50 price objective on the stock. in a research note on Wednesday, June 15th. Finally, Bank of America Corp. restated a “buy” rating on shares of Intuit in a research note on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $110.06.
The firm has a 50-day moving average price of $109.15 and a 200 day moving average price of $101.50. The company has a market cap of $29.42 billion and a PE ratio of 30.04.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, May 24th. The company reported $3.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.21 by $0.22. The company earned $2.30 billion during the quarter. Intuit’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.85 earnings per share. Equities analysts expect that Intuit Inc. will post $3.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Tuesday, July 12th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, July 8th.
In related news, EVP Henry Tayloe Stansbury sold 2,787 shares of the business’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $103.86, for a total value of $289,457.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Diane B. Greene sold 30,000 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $105.01, for a total value of $3,150,300.00. Following the completion of the sale, the director now directly owns 37,393 shares in the company, valued at approximately $3,926,638.93. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Trexquant Investment LP acquired a new position in Intuit during the fourth quarter worth approximately $1,044,000. US Bancorp DE raised its position in Intuit by 9.9% in the fourth quarter. US Bancorp DE now owns 215,901 shares of the company’s stock worth $20,833,000 after buying an additional 19,376 shares in the last quarter. Advisors Asset Management Inc. raised its position in Intuit by 11.8% in the fourth quarter. Advisors Asset Management Inc. now owns 17,987 shares of the company’s stock worth $1,736,000 after buying an additional 1,904 shares in the last quarter. Marshall Wace LLP raised its position in Intuit by 491.4% in the fourth quarter. Marshall Wace LLP now owns 570,208 shares of the company’s stock worth $55,025,000 after buying an additional 473,793 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position in Intuit by 14.6% in the fourth quarter. Suntrust Banks Inc. now owns 33,521 shares of the company’s stock worth $3,233,000 after buying an additional 4,272 shares in the last quarter.
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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