Traders Buy Intuit (INTU) on Weakness

Investors purchased shares of Intuit Inc. (NASDAQ:INTU) on weakness during trading on Thursday. $77.72 million flowed into the stock on the tick-up and $37.79 million flowed out of the stock on the tick-down, for a money net flow of $39.93 million into the stock. Of all equities tracked, Intuit had the 11th highest net in-flow for the day. Intuit traded down ($0.63) for the day and closed at $155.56

Several analysts have recently weighed in on the stock. First Analysis upgraded shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective for the company in a research note on Wednesday, August 23rd. William Blair assumed coverage on shares of Intuit in a research note on Tuesday, September 19th. They issued an “outperform” rating for the company. UBS lowered shares of Intuit to an “underperform” rating in a research note on Wednesday, September 27th. Wells Fargo & Company upgraded shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price objective for the company in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $141.00 price target on shares of Intuit in a research report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $152.89.

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $39,768.90, a price-to-earnings ratio of 41.59, a PEG ratio of 2.80 and a beta of 1.18.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.30. The firm had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. equities research analysts expect that Intuit Inc. will post 3.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Tuesday, January 9th. Intuit’s dividend payout ratio is 41.38%.

In other Intuit news, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction on Monday, September 11th. The shares were sold at an average price of $142.31, for a total transaction of $265,835.08. Following the transaction, the vice president now directly owns 1,713 shares of the company’s stock, valued at approximately $243,777.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction on Friday, December 8th. The stock was sold at an average price of $155.03, for a total transaction of $28,422,114.99. The disclosure for this sale can be found here. Insiders have sold a total of 1,082,140 shares of company stock worth $161,190,993 over the last ninety days. Insiders own 5.59% of the company’s stock.

Large investors have recently modified their holdings of the stock. Oakbrook Investments LLC boosted its holdings in shares of Intuit by 118.1% in the 3rd quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock worth $3,045,000 after buying an additional 11,600 shares during the last quarter. Comgest Global Investors S.A.S. boosted its holdings in shares of Intuit by 2.4% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock worth $58,433,000 after buying an additional 10,400 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Intuit by 0.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock worth $53,363,000 after buying an additional 1,870 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Intuit by 218.4% in the 2nd quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock worth $30,483,000 after buying an additional 157,101 shares during the last quarter. Finally, Asset Advisors Corp boosted its holdings in shares of Intuit by 2.5% in the 3rd quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock worth $13,157,000 after buying an additional 2,300 shares during the last quarter. 86.28% of the stock is currently owned by institutional investors.

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About Intuit

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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

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