Intuit (NASDAQ:INTU – Get Rating) released its quarterly earnings results on Tuesday. The software maker reported $8.92 earnings per share for the quarter, beating the consensus estimate of $7.30 by $1.62, Briefing.com reports. Intuit had a return on equity of 16.88% and a net margin of 15.91%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period in the previous year, the company posted $6.70 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Intuit updated its Q4 guidance to $1.43-1.48 EPS.
Intuit Stock Down 7.5 %
INTU stock opened at $415.92 on Thursday. The business’s 50-day moving average price is $433.62 and its 200-day moving average price is $412.08. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Intuit has a twelve month low of $352.63 and a twelve month high of $490.83. The stock has a market cap of $116.69 billion, a P/E ratio of 52.52, a PEG ratio of 3.36 and a beta of 1.19.
Insider Buying and Selling
In related news, Director Eve B. Burton sold 4,539 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $412.57, for a total value of $1,872,655.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Eve B. Burton sold 4,539 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $412.57, for a total value of $1,872,655.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michelle M. Clatterbuck sold 545 shares of Intuit stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $421.38, for a total value of $229,652.10. Following the completion of the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at approximately $568,863. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,328 shares of company stock valued at $3,019,323. Corporate insiders own 3.18% of the company’s stock.
Institutional Trading of Intuit
Analyst Upgrades and Downgrades
Several research firms have commented on INTU. Barclays boosted their target price on Intuit from $465.00 to $495.00 in a report on Monday, May 15th. Mizuho dropped their target price on Intuit from $650.00 to $550.00 in a report on Tuesday, May 16th. Atlantic Securities began coverage on Intuit in a report on Monday, April 24th. They issued an “overweight” rating and a $530.00 target price on the stock. BMO Capital Markets boosted their target price on Intuit from $462.00 to $485.00 in a report on Wednesday. Finally, Morgan Stanley boosted their price target on Intuit from $520.00 to $525.00 in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $491.35.
Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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