Intuit (NASDAQ:INTU) Issues Quarterly Earnings Results

Intuit (NASDAQ:INTU) announced its earnings results on Thursday. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14, Briefing.com reports. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share.

Intuit Stock Performance

Shares of INTU stock opened at $619.85 on Friday. The firm has a 50 day moving average of $639.27 and a two-hundred day moving average of $634.44. The stock has a market capitalization of $173.28 billion, a PE ratio of 57.18, a P/E/G ratio of 3.14 and a beta of 1.23. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit has a 52 week low of $473.56 and a 52 week high of $676.62.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTU. JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday. Stifel Nicolaus increased their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday. Royal Bank of Canada initiated coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Finally, Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $703.27.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is currently owned by company insiders.

Intuit Company Profile

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 ProTax.