Earlier in the week we had some fun posting the following, "I just watched the film, "The Counselor" which had a great line, "That this is some sort of coincidence. Because they don't really believe in coincidences. They've heard of them. They've just never seen one." No, we also don't believe in conspiracies....however it's kind of fun to read what some are thinking, no? Who knows, maybe this fellow is onto something....exactly what we're not quite sure.....and on that note enjoy the writings of Markus Aarnio who for SeekingAlpha writes: Intuit: 5 Different Insiders Have Sold Shares During The Last 30 Days. The idea being was it time to "short" INTU.
Well just days later to add more fuel to the fire we learn of another insider selling, as Masoud Bidgoli for MidEast Times writes: Intuit (NASDAQ:INTU) Director Johnson Suzanne M. Nora unloaded 75,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $78.91, for a total value of $5,918,250.00. Following the completion of the sale, the director now directly owns 15,737 shares of the company’s stock, valued at approximately $1,241,807. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Well just days later to add more fuel to the fire we learn of another insider selling, as Masoud Bidgoli for MidEast Times writes: Intuit (NASDAQ:INTU) Director Johnson Suzanne M. Nora unloaded 75,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $78.91, for a total value of $5,918,250.00. Following the completion of the sale, the director now directly owns 15,737 shares of the company’s stock, valued at approximately $1,241,807. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on INTU shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Intuit in a research note on Wednesday, May 28th. They now have a $84.00 price target on the stock, up previously from $77.00. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Intuit in a research note on Thursday, May 22nd. They now have a $66.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Intuit to $80.00 in a research note on Wednesday, May 21st. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.23.
Intuit (NASDAQ:INTU) traded up 0.10% during mid-day trading on Friday, hitting $78.99. The stock had a trading volume of 1,006,449 shares. Intuit has a one year low of $56.74 and a one year high of $82.40. The stock has a 50-day moving average of $77.02 and a 200-day moving average of $76.13. The company has a market cap of $22.424 billion and a price-to-earnings ratio of 25.19. Intuit also saw a significant decrease in short interest in the month of May. As of May 30th, there was short interest totalling 7,148,697 shares, a decrease of 22.2% from the May 15th total of 9,193,581 shares. Based on an average daily trading volume, of 2,077,041 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.6% of the company’s stock are short sold.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 20th. The company reported $3.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.50 by $0.03. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts expect that Intuit will post $3.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, July 8th.
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