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

Intuit (NASDAQ:INTU) posted its quarterly earnings results on Thursday. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14, RTT News reports. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS.

Intuit Trading Up 4.3 %

INTU traded up $28.10 during trading on Thursday, hitting $678.70. The company’s stock had a trading volume of 2,223,892 shares, compared to its average volume of 1,348,469. The firm has a market capitalization of $190.12 billion, a P/E ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25. Intuit has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average price is $634.46 and its 200-day moving average price is $630.89.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have commented on INTU. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Barclays increased their price objective on shares of Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Scotiabank assumed coverage on shares of Intuit in a research report on Monday. They issued a “sector perform” rating and a $700.00 target price on the stock. Jefferies Financial Group upped their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $737.06.

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.