Intuit (NASDAQ:INTU) Releases Quarterly Earnings, Beats Expectations with $0.14 EPS

Intuit (NASDAQ:INTU – Get Your Free Report ) released its quarterly earnings data on Thursday. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14, Briefing.com reports. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. In the same quarter last year, the business earned $0.40 EPS. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year.

Intuit Price Performance

NASDAQ:INTU opened at $619.85 on Friday. The firm has a market cap of $173.28 billion, a PE ratio of 57.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. Intuit has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50, and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $639.27, and its two-hundred-day moving average price is $634.44.

Intuit raises dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a dividend of $4.16 on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is 33.21%.

The Wall Street analyst weighs in

INTU has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $768.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Stifel Nicolaus lifted their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday. Barclays decreased their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $703.27, according to MarketBeat .

Check out our latest report on Intuit

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold a total of 195,963 shares of company stock worth $114,442,445. Corporate insiders own 2.90% of the company’s shares.

Intuit Company Profile

(Get a free report)

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

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