Stock of The Day: What’s Propelling Intuit Inc. to Increase So Much?

Stock of The Day: What's Propelling Intuit Inc. to Increase So Much?

The stock of Intuit Inc. (NASDAQ:INTU) is a huge mover today! About 2.52M shares traded hands or 80.00% up from the average. Intuit Inc. (NASDAQ:INTU) has risen 9.64% since April 18, 2016 and is uptrending. It has outperformed by 5.21% the S&P500.
The move comes after 8 months positive chart setup for the $30.65 billion company. It was reported on Nov, 18 by We have $173.64 PT which if reached, will make NASDAQ:INTU worth $15.33B more.

Intuit Inc. (NASDAQ:INTU) Ratings Coverage

Out of 16 analysts covering Intuit (NASDAQ:INTU), 7 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 44% are positive. Intuit has been the topic of 49 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by RBC Capital Markets on Wednesday, August 24. As per Wednesday, August 19, the company rating was upgraded by Deutsche Bank. Credit Suisse maintained Intuit Inc. (NASDAQ:INTU) rating on Wednesday, August 24. Credit Suisse has “Neutral” rating and $100 price target. The firm earned “Buy” rating on Wednesday, August 24 by Citigroup. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, February 26. The stock has “Neutral” rating given by Credit Suisse on Thursday, April 21. Deutsche Bank maintained Intuit Inc. (NASDAQ:INTU) on Wednesday, November 4 with “Buy” rating. The stock of Intuit Inc. (NASDAQ:INTU) earned “Buy” rating by TheStreet on Saturday, August 22. On Friday, November 20 the stock rating was maintained by UBS with “Buy”. The company was downgraded on Monday, August 10 by Raymond James.

According to Zacks Investment Research, “Intuit’s mission is to revolutionize how people manage their financial activities. The company’s objective is to greatly expand the world of electronic finance. Electronic finance encompasses three types of products and services: desktop software products that operate on customers’ personal computers to automate financial tasks; products and services that are delivered via the Internet; and products and services that connect Internet-based services with desktop software to enable customers to integrate their financial activities.”

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.18, from 1.04 in 2016Q1. The ratio dived, as 34 funds sold all Intuit Inc. shares owned while 221 reduced positions. 58 funds bought stakes while 206 increased positions. They now own 218.24 million shares or 4.85% less from 229.37 million shares in 2016Q1.
Blackrock Japan owns 581,245 shares or 0.23% of their US portfolio. Moreover, Great Lakes Advsrs Ltd Liability has 0.01% invested in Intuit Inc. (NASDAQ:INTU) for 3,697 shares. Bath Savings Com reported 61,873 shares or 2.16% of all its holdings. Point72 Asia (Hong Kong) Ltd has invested 0.14% of its portfolio in Intuit Inc. (NASDAQ:INTU). Axa has 260,787 shares for 0.13% of their US portfolio. Tru Co Of Virginia Va has invested 0.34% of its portfolio in Intuit Inc. (NASDAQ:INTU). Ls Inv Advisors Limited Co accumulated 7,336 shares or 0.06% of the stock. The California-based United Advisers Lc has invested 0.03% in Intuit Inc. (NASDAQ:INTU). Tarbox last reported 97 shares in the company. Cibc Asset Management Incorporated, a Ontario – Canada-based fund reported 32,864 shares. Fifth Third National Bank accumulated 25,286 shares or 0.02% of the stock. Cornerstone Mngmt Hldgs Ltd Liability Co last reported 0.06% of its portfolio in the stock. Cannell Peter B & holds 0.01% of its portfolio in Intuit Inc. (NASDAQ:INTU) for 2,892 shares. Mckinley Carter Wealth last reported 5,336 shares in the company. Nordea Inv Mngmt last reported 26,565 shares in the company.

Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 11 selling transactions for $12.58 million net activity. STANSBURY HENRY TAYLOE had sold 1,871 shares worth $204,294. 4,389 Intuit Inc. (NASDAQ:INTU) shares with value of $483,060 were sold by Wernikoff Daniel A. On Friday, May 27 FLOURNOY MARK J sold $1.14M worth of the stock or 10,627 shares. 18,567 shares were sold by Williams R Neil, worth $2.07 million. The insider Goodarzi Sasan K sold 18,567 shares worth $2.04M.

More news for Intuit Inc. (NASDAQ:INTU) were recently published by:, which released: “Intuit Inc. Bottom Line Drops 38% In Q1” on November 17, 2016.‘s article titled: “Earnings Reaction History: Intuit Inc., 60.0% Follow-Through Indicator, 4.1 …” and published on November 17, 2016 is yet another important article.

INTU Company Profile

Intuit Inc., incorporated on February 1, 1993, is a well-known provider of business and financial management solutions for small businesses, clients and accounting professionals. The Firm operates through three divisions: 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. The Small Business segment also includes third-party applications that integrate with the Company’s offerings. The Consumer Tax segment targets clients and includes TurboTax income tax preparation services and products. The ProConnect segment targets professional accountants in the United States and Canada. The Company’s ProConnect professional tax offerings include Lacerte, ProSeries, ProFile and ProConnect Tax Online.

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