Intuit Inc. (INTU) Trading Down 3.5%
Intuit Inc. (NASDAQ:INTU) traded down 3.5% on Wednesday . The stock traded as low as $108.00 and last traded at $109.81, with a volume of 2,868,563 shares traded. The stock had previously closed at $113.84.
A number of research analysts recently commented on the company. Brean Capital increased their price target on Intuit from $130.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $750.00 price target on shares of Intuit in a report on Friday, July 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $125.00 price target (down previously from $130.00) on shares of Intuit in a report on Wednesday. Barclays PLC downgraded Intuit from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $110.00 to $116.00 in a report on Friday, July 15th. Finally, Goldman Sachs Group Inc. increased their price target on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $194.34.
The company’s 50 day moving average is $112.99 and its 200-day moving average is $105.30. The firm has a market cap of $28.15 billion and a PE ratio of 28.74.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. The company had revenue of $754 million for the quarter, compared to analyst estimates of $735.35 million. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts anticipate that Intuit Inc. will post $4.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Wednesday, October 5th. This is a positive change from Intuit’s previous quarterly dividend of $0.30.
In other news, EVP Sasan K. Goodarzi sold 7,350 shares of Intuit stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.00, for a total value of $808,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 10,056 shares of Intuit stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $107.31, for a total transaction of $1,079,109.36. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Trexquant Investment LP bought a new position in Intuit during the fourth quarter valued at $1,044,000. Calvert Investment Management Inc. boosted its position in Intuit by 16.5% in the fourth quarter. Calvert Investment Management Inc. now owns 11,307 shares of the company’s stock valued at $1,091,000 after buying an additional 1,605 shares during the period. Advisors Asset Management Inc. boosted 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 valued at $1,736,000 after buying an additional 1,904 shares during the period. US Bancorp DE boosted its position in 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 period. Finally, BlackRock Advisors LLC boosted its position in 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 period.
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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