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

Intuit (NASDAQ:INTU) announced its earnings results on Thursday. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14, RTT News reports. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis.

Intuit Stock Down 5.7 %

Shares of NASDAQ INTU opened at $640.12 on Friday. The company’s 50-day simple moving average is $634.81 and its 200-day simple moving average is $631.20. Intuit has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market cap of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

Several research analysts recently issued reports on INTU shares. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler cut their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Finally, Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last 90 days. Insiders own 2.90% of the company’s stock.

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.