Intuit (NASDAQ:INTU) Issues Earnings Results

Intuit (NASDAQ:INTU) posted its quarterly earnings data on Tuesday. The software maker reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.51), Zacks reports. Intuit had a net margin of 17.59% and a return on equity of 18.25%.

Intuit Stock Down 2.0 %

Shares of INTU traded down $11.61 during mid-day trading on Tuesday, hitting $555.63. 2,992,738 shares of the company traded hands, compared to its average volume of 1,808,474. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 1-year low of $553.24 and a 1-year high of $714.78. The company has a market capitalization of $155.53 billion, a PE ratio of 53.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business has a 50 day moving average of $610.15 and a 200 day moving average of $628.07.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at $403,414.48. The trade was a 66.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock valued at $140,855,687 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INTU has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Finally, Stifel Nicolaus decreased 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, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $726.71.

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.