Intuit (NASDAQ:INTU) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Intuit (NASDAQ:INTU) issued its quarterly earnings data on Thursday. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14, RTT News reports. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share.

Intuit Trading Down 5.7 %

NASDAQ INTU opened at $640.12 on Friday. The company has a market capitalization of $179.31 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78. The firm’s fifty day simple moving average is $634.81 and its 200-day simple moving average is $631.27. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. Piper Sandler reduced their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

About Intuit

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.