Shares of Intuit (INTU) Sees Large Outflow of Money

Intuit (INTU) : Net money flow in Intuit (INTU) was negative ($1.44 million) and the inflow of money on uptick was $0.53 million, whereas, the outflow of money on downticks amounted to $1.97 million on Tuesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.27. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $1.61 million. The money flow in block trades was negative ($1.61). Intuit (INTU) gained $0.06 cent during the day and reached $110.82, a gain of 0.05% over the previous day.


Also, In the latest statement by the brokerage house, Oppenheimer maintains its outlook on Intuit (NASDAQ:INTU). The current rating of the shares is Outperform, according to the research report released by the firm. The brokerage firm raises the price target from $113 per share to $116 per share. The rating by the firm was issued on August 25, 2016.

Intuit Inc. has dropped 2.36% in the last five trading days, however, the shares have posted positive gains of 0.35% in the last 4 weeks. Intuit Inc. is up 3.96% in the last 3-month period. Year-to-Date the stock performance stands at 16.18%.

Intuit (NASDAQ:INTU): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $110.71 and $110.11 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $111.16. The buying momentum continued till the end and the stock did not give up its gains. It closed at $111.15, notching a gain of 0.35% for the day. The total traded volume was 1,503,370 . The stock had closed at $110.76 on the previous day.

In a related news, Stansbury Henry Tayloe, Officer (Evp, Chief Technology Officer) of INTUIT INC, unloaded 2,787 shares at an average price of $103.86 on June 24, 2016. The total amount of the transaction was worth $289,458, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others. The Companys Small Business segment solutions include QuickBooks Online, Online Payroll solutions, Online Payments solutions and Intuit Developer Group. The Companys Small Business Desktop Ecosystem solutions include QuickBooks, Desktop Payroll Solutions, Desktop Payments solutions, QuickBooks Technical Support and financial supplies. The Consumer Tax segment offers tax return preparation offerings, electronic filing and other services, and Intuit Tax Freedom Project. The Companys professional tax offerings include Lacerte and ProSeries.

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