Intuit Inc. (INTU) Sees Unusually-High Trading Volume
Shares of Intuit Inc. (NASDAQ:INTU) saw strong trading volume on Monday . 2,196,574 shares changed hands during trading, an increase of 58% from the previous session’s volume of 1,389,708 shares.The stock last traded at $110.63 and had previously closed at $110.99.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Wedbush reissued an “outperform” rating and set a $755.00 price target (up from $715.00) on shares of Intuit in a research note on Sunday, July 24th. Canaccord Genuity reissued a “buy” rating and set a $750.00 price target on shares of Intuit in a research note on Friday, July 22nd. Vetr raised Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price target for the company in a research note on Monday, July 18th. Finally, Barclays PLC lowered Intuit from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $110.00 to $116.00 in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Intuit currently has an average rating of “Buy” and an average price target of $186.41.
The firm has a 50-day moving average of $111.14 and a 200 day moving average of $103.11. The firm has a market cap of $28.34 billion and a PE ratio of 28.93.
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. The business earned $2.30 billion during the quarter. During the same period last year, the firm earned $2.85 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts predict that Intuit Inc. will post $3.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 18th. Stockholders of record on Tuesday, July 12th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.20 annualized dividend and a dividend yield of 1.08%.
In other news, CAO Mark J. Flournoy sold 10,627 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $107.30, for a total transaction of $1,140,277.10. Following the completion of the transaction, the chief accounting officer now directly owns 2,679 shares in the company, valued at $287,456.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Henry Tayloe Stansbury sold 2,787 shares of the firm’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 disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its stake in shares of Intuit by 12.5% in the fourth quarter. BlackRock Advisors LLC now owns 398,335 shares of the company’s stock valued at $38,440,000 after buying an additional 44,308 shares during the last quarter. Alta Park Capital LP bought a new stake in shares of Intuit during the fourth quarter valued at about $2,591,000. Trexquant Investment LP bought a new stake in shares of Intuit during the fourth quarter valued at about $1,044,000. US Bancorp DE boosted its stake in shares of Intuit by 9.9% in the fourth quarter. US Bancorp DE now owns 215,901 shares of the company’s stock valued at $20,833,000 after buying an additional 19,376 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Intuit by 11.8% in the fourth quarter. Advisors Asset Management Inc. now owns 17,987 shares of the company’s stock valued at $1,736,000 after buying an additional 1,904 shares during 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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