Could Intuit Inc. (INTU) Go Up? The Stock Formed Wedge Up

January 19, 2018 - By Stephen Andrade

Investors sentiment decreased to 0.92 in 2017 Q3. Its down 0.04, from 0.96 in 2017Q2. It worsened, as 33 investors sold Intuit Inc. shares while 249 reduced holdings. 66 funds opened positions while 193 raised stakes. 215.12 million shares or 0.10% less from 215.33 million shares in 2017Q2 were reported.
Michigan-based Comerica Savings Bank has invested 0.09% in Intuit Inc. (NASDAQ:INTU). Pitcairn, Pennsylvania-based fund reported 18,747 shares. Lazard Asset Mngmt holds 119,745 shares. Thomas White Interest Limited has 0.27% invested in Intuit Inc. (NASDAQ:INTU). Mogy Joel R Invest Counsel holds 1.59% or 67,255 shares. Dynamic Advsrs Solutions Limited Co reported 0.37% of its portfolio in Intuit Inc. (NASDAQ:INTU). Nationwide Fund Advisors holds 0.26% or 466,416 shares. Credit Suisse Ag holds 0.05% or 395,752 shares in its portfolio. Somerville Kurt F reported 2,125 shares. Smith Asset Mgmt Gp Limited Partnership has 1.16% invested in Intuit Inc. (NASDAQ:INTU). State Farm Mutual Automobile Insur invested 0.62% in Intuit Inc. (NASDAQ:INTU). Hartford Investment invested in 0.18% or 66,800 shares. Bancorporation Of America De invested in 2.03M shares. Fmr Limited Liability Corporation reported 4.34M shares. Shell Asset Management reported 198,875 shares.

Since August 24, 2017, it had 0 insider buys, and 15 sales for $155.18 million activity. Shares for $4.10M were sold by STANSBURY HENRY TAYLOE on Friday, September 22. $1.13M worth of Intuit Inc. (NASDAQ:INTU) was sold by Wernikoff Daniel A on Thursday, August 24. $265,839 worth of Intuit Inc. (NASDAQ:INTU) was sold by FLOURNOY MARK J. Shares for $26.05 million were sold by Williams R Neil on Tuesday, September 12. $13.37M worth of Intuit Inc. (NASDAQ:INTU) was sold by Goodarzi Sasan K.

The stock of Intuit Inc. (INTU) formed an up wedge with $175.91 target or 7.00 % above today’s $164.40 share price. The 5 months wedge indicates low risk for the $42.03 billion company. If the $175.91 price target is reached, the company will be worth $2.94B more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.07% or $0.11 during the last trading session, reaching $164.4. About 980,771 shares traded. Intuit Inc. (NASDAQ:INTU) has risen 23.62% since January 19, 2017 and is uptrending. It has outperformed by 6.92% the S&P500.

Analysts await Intuit Inc. (NASDAQ:INTU) to report earnings on February, 22. They expect $0.09 EPS, up 28.57 % or $0.02 from last year’s $0.07 per share. INTU’s profit will be $23.01M for 456.67 P/E if the $0.09 EPS becomes a reality. After $-0.14 actual EPS reported by Intuit Inc. for the previous quarter, Wall Street now forecasts -164.29 % EPS growth.

Intuit Inc. (NASDAQ:INTU) Ratings Coverage

Among 23 analysts covering Intuit (NASDAQ:INTU), 9 have Buy rating, 2 Sell and 12 Hold. Therefore 39% are positive. Intuit has $185.0 highest and $86 lowest target. $144.60’s average target is -12.04% below currents $164.4 stock price. Intuit had 79 analyst reports since August 10, 2015 according to SRatingsIntel. The company was maintained on Tuesday, January 9 by Deutsche Bank. The stock has “Buy” rating by Credit Suisse on Wednesday, August 23. The firm earned “Sector Perform” rating on Friday, November 20 by RBC Capital Markets. As per Wednesday, August 24, the company rating was maintained by Citigroup. The stock of Intuit Inc. (NASDAQ:INTU) has “Buy” rating given on Thursday, April 14 by Brean Capital. As per Tuesday, November 21, the company rating was maintained by Stifel Nicolaus. The company was initiated on Tuesday, September 19 by William Blair. On Wednesday, October 4 the stock rating was maintained by Stifel Nicolaus with “Hold”. As per Tuesday, November 21, the company rating was maintained by Wells Fargo. The firm earned “Buy” rating on Tuesday, October 31 by Jefferies.

More recent Intuit Inc. (NASDAQ:INTU) news were published by: Streetinsider.com which released: “Form 3 INTUIT INC For: Jan 18 Filed by: SZKUTAK THOMAS J” on January 19, 2018. Also Businesswire.com published the news titled: “Intuit Announces Annual Stockholder Meeting” on January 11, 2018. Nasdaq.com‘s news article titled: “Intuit Inc. (INTU) Ex-Dividend Date Scheduled for January 09, 2018” with publication date: January 08, 2018 was also an interesting one.

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