Traders Buy Shares of Intuit (INTU) on Weakness

Investors purchased shares of Intuit Inc. (NASDAQ:INTU) on weakness during trading hours on Monday. $66.86 million flowed into the stock on the tick-up and $34.25 million flowed out of the stock on the tick-down, for a money net flow of $32.61 million into the stock. Of all companies tracked, Intuit had the 19th highest net in-flow for the day. Intuit traded down ($0.38) for the day and closed at $248.48

Several equities research analysts recently commented on the stock. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Deutsche Bank increased their price target on shares of Intuit from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Zacks Investment Research cut shares of Intuit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 27th. ValuEngine cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Morgan Stanley increased their price target on shares of Intuit from $225.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Monday, March 25th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $243.58.

The firm has a market cap of $64.47 billion, a price-to-earnings ratio of 54.85, a P/E/G ratio of 2.90 and a beta of 1.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.44. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. During the same quarter last year, the company earned $0.35 earnings per share. As a group, research analysts predict that Intuit Inc. will post 5.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.88 annualized dividend and a yield of 0.76%. Intuit’s dividend payout ratio (DPR) is 41.50%.

In other Intuit news, EVP James Alexander Chriss sold 923 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $247.10, for a total value of $228,073.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dennis D. Powell sold 4,083 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $248.96, for a total transaction of $1,016,503.68. Following the completion of the transaction, the director now owns 3,550 shares in the company, valued at $883,808. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,609 shares of company stock worth $22,757,853. 4.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in INTU. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Intuit by 4.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,028 shares of the software maker’s stock worth $596,000 after purchasing an additional 132 shares during the period. Strs Ohio lifted its holdings in shares of Intuit by 0.5% during the first quarter. Strs Ohio now owns 379,414 shares of the software maker’s stock worth $99,182,000 after purchasing an additional 1,790 shares during the period. Coastline Trust Co lifted its holdings in shares of Intuit by 6.7% during the fourth quarter. Coastline Trust Co now owns 3,180 shares of the software maker’s stock worth $626,000 after purchasing an additional 200 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Intuit by 16.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock worth $77,000 after purchasing an additional 56 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Intuit by 3.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 131,409 shares of the software maker’s stock worth $25,868,000 after purchasing an additional 4,038 shares during the period. Institutional investors own 87.72% of the company’s stock.

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About Intuit (NASDAQ:INTU)

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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