Intuit Inc. (NASDAQ:INTU) Short Interest Update

Intuit Inc. (NASDAQ:INTU) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 2,510,000 shares, a decrease of 7.7% from the April 30th total of 2,720,000 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 1,740,000 shares, the days-to-cover ratio is presently 1.4 days.

INTU has been the subject of a number of recent analyst reports. Barclays upped their target price on Intuit from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Credit Suisse Group boosted their price target on Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. Stifel Nicolaus lowered their price target on Intuit from $315.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 8th. Jefferies Financial Group boosted their price target on Intuit from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday. Finally, BidaskClub raised Intuit from a “buy” rating to a “strong-buy” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $306.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Intuit in the fourth quarter worth about $610,762,000. Private Advisor Group LLC increased its holdings in Intuit by 100.8% during the 4th quarter. Private Advisor Group LLC now owns 11,928 shares of the software maker’s stock valued at $3,124,000 after purchasing an additional 1,451,166 shares during the period. Sands Capital Management LLC increased its holdings in Intuit by 53.3% during the 4th quarter. Sands Capital Management LLC now owns 3,400,292 shares of the software maker’s stock valued at $890,638,000 after purchasing an additional 1,181,976 shares during the period. Edgewood Management LLC increased its holdings in Intuit by 21.6% during the 1st quarter. Edgewood Management LLC now owns 5,973,509 shares of the software maker’s stock valued at $1,373,907,000 after purchasing an additional 1,059,259 shares during the period. Finally, Findlay Park Partners LLP increased its holdings in Intuit by 253.5% during the 4th quarter. Findlay Park Partners LLP now owns 1,406,788 shares of the software maker’s stock valued at $368,480,000 after purchasing an additional 1,008,788 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.

NASDAQ:INTU traded down $2.39 during trading hours on Friday, hitting $287.61. 1,738,172 shares of the company’s stock traded hands, compared to its average volume of 1,095,271. The firm has a market cap of $75.54 billion, a P/E ratio of 56.73, a P/E/G ratio of 3.89 and a beta of 1.05. Intuit has a 52 week low of $187.68 and a 52 week high of $306.89. The business’s fifty day simple moving average is $262.98 and its two-hundred day simple moving average is $266.23. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($0.11). Intuit had a net margin of 19.50% and a return on equity of 34.27%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the business posted $5.55 EPS. Intuit’s quarterly revenue was down 8.3% on a year-over-year basis. On average, analysts expect that Intuit will post 5.85 EPS for the current year.

Intuit Company Profile

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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