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

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

Shares of INTU traded down $12.40 during mid-day trading on Tuesday, reaching $358.97. The company had a trading volume of 2,811,376 shares, compared to its average volume of 1,948,038. The company’s 50 day simple moving average is $438.84 and its 200 day simple moving average is $527.43. Intuit has a 1-year low of $339.36 and a 1-year high of $716.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $101.52 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 2.89 and a beta of 1.16.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were paid a $0.68 dividend. The ex-dividend date was Friday, April 8th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.76%. Intuit’s payout ratio is currently 34.69%.

A number of equities analysts recently commented on the stock. Bank of America lowered their price target on shares of Intuit from $750.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $492.00 price target on the stock in a research report on Wednesday, March 2nd. Edward Jones raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Friday, March 11th. Jefferies Financial Group lowered their price target on shares of Intuit from $790.00 to $700.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Finally, Mizuho lowered their price target on shares of Intuit from $730.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, February 3rd. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Intuit currently has an average rating of “Buy” and a consensus target price of $595.95.

In related news, EVP Laura A. Fennell sold 59,286 shares of Intuit stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total transaction of $28,162,628.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James Alexander Chriss sold 368 shares of Intuit stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $478.84, for a total transaction of $176,213.12. The disclosure for this sale can be found here. Company insiders own 3.27% of the company’s stock.

A number of large investors have recently bought and sold shares of INTU. Capital World Investors lifted its position in shares of Intuit by 140.3% in the 1st quarter. Capital World Investors now owns 859,308 shares of the software maker’s stock worth $413,190,000 after purchasing an additional 501,656 shares during the period. Durable Capital Partners LP lifted its position in shares of Intuit by 8.7% in the 1st quarter. Durable Capital Partners LP now owns 1,422,541 shares of the software maker’s stock worth $684,015,000 after purchasing an additional 113,435 shares during the period. Barclays PLC lifted its position in shares of Intuit by 5.3% in the 4th quarter. Barclays PLC now owns 1,179,139 shares of the software maker’s stock worth $758,444,000 after purchasing an additional 59,417 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Intuit by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,950,513 shares of the software maker’s stock worth $1,591,832,000 after purchasing an additional 44,000 shares during the period. Finally, Soros Fund Management LLC lifted its position in shares of Intuit by 232.0% in the 1st quarter. Soros Fund Management LLC now owns 61,828 shares of the software maker’s stock worth $29,729,000 after purchasing an additional 43,203 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Intuit Company Profile (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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