Intuit (NASDAQ:INTU) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Intuit (NASDAQ:INTUGet Rating) released its quarterly earnings results on Tuesday. The software maker reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.58 by $0.07, MarketWatch Earnings reports. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.45 earnings per share.

NASDAQ INTU traded up $17.77 on Thursday, reaching $406.22. The company had a trading volume of 184,292 shares, compared to its average volume of 1,981,526. The stock has a market capitalization of $114.88 billion, a P/E ratio of 51.35, a P/E/G ratio of 2.89 and a beta of 1.16. The company’s fifty day moving average is $437.13 and its 200 day moving average is $526.47. Intuit has a 52-week low of $339.36 and a 52-week high of $716.86. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 11th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Friday, April 8th. Intuit’s payout ratio is currently 34.69%.

INTU has been the topic of several analyst reports. Credit Suisse Group reduced their target price on Intuit from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group reduced their target price on Intuit from $715.00 to $615.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Citigroup started coverage on Intuit in a report on Tuesday, February 1st. They issued a “buy” rating and a $625.00 target price on the stock. Evercore ISI cut their price target on Intuit from $720.00 to $645.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Finally, StockNews.com started coverage on Intuit in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Buy” and an average target price of $553.00.

In related news, EVP Laura A. Fennell sold 59,286 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total value of $28,162,628.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Alexander Chriss sold 368 shares of the stock in a transaction on Monday, February 28th. The shares were sold at an average price of $478.84, for a total value of $176,213.12. The disclosure for this sale can be found here. Corporate insiders own 3.27% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter valued at $54,000. Carolinas Wealth Consulting LLC increased its position in shares of Intuit by 24.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 222 shares of the software maker’s stock valued at $107,000 after purchasing an additional 43 shares during the last quarter. KB Financial Partners LLC increased its position in shares of Intuit by 37.6% during the 1st quarter. KB Financial Partners LLC now owns 315 shares of the software maker’s stock valued at $151,000 after purchasing an additional 86 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Intuit during the 4th quarter valued at $153,000. Finally, Marshall Wace LLP purchased a new stake in shares of Intuit during the 4th quarter valued at $169,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

About Intuit (Get Rating)

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProConnect.

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Earnings History for Intuit (NASDAQ:INTU)

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