Intuit (NASDAQ:INTU) Releases Earnings Results, Beats Estimates By $0.24 EPS

Intuit (NASDAQ:INTU) posted its quarterly earnings results on Thursday. The software maker reported $3.34 EPS for the quarter, beating the consensus estimate of $3.10 by $0.24, FiscalAI reports. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.76 billion.

Intuit Trading Down 2.0%

Shares of Intuit stock traded down $13.18 during mid-day trading on Thursday, hitting $637.44. 2,459,815 shares of the stock were exchanged, compared to its average volume of 1,811,423. The stock has a market capitalization of $177.72 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25. Intuit has a twelve month low of $532.65 and a twelve month high of $813.70. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $666.42 and a 200 day simple moving average of $707.07.

Analyst Ratings Changes

A number of equities research analysts have commented on INTU shares. Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. KeyCorp reduced their price objective on shares of Intuit from $850.00 to $825.00 and set an “overweight” rating for the company in a research note on Friday, August 22nd. Evercore ISI reissued an “outperform” rating and set a $875.00 price objective on shares of Intuit in a report on Tuesday. Citigroup lowered their target price on shares of Intuit from $815.00 to $803.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Finally, Bank of America reduced their price target on shares of Intuit from $875.00 to $800.00 and set a “buy” rating for the company in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $799.35.

Insider Activity at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the transaction, the director owned 14,475 shares of the company’s stock, valued at $9,570,146.25. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction on Monday, August 25th. The shares were sold at an average price of $664.99, for a total value of $351,779.71. Following the completion of the transaction, the director owned 6,162,547 shares in the company, valued at $4,098,032,129.53. The trade was a 0.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,407 shares of company stock valued at $1,614,913. Company insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently bought and sold shares of the business. Betterment LLC raised its stake in shares of Intuit by 2.1% in the 3rd quarter. Betterment LLC now owns 779 shares of the software maker’s stock valued at $532,000 after acquiring an additional 16 shares during the period. One Capital Management LLC increased its holdings in Intuit by 2.7% in the 3rd quarter. One Capital Management LLC now owns 681 shares of the software maker’s stock valued at $465,000 after purchasing an additional 18 shares in the last quarter. Quadcap Wealth Management LLC raised its position in Intuit by 1.0% in the third quarter. Quadcap Wealth Management LLC now owns 1,801 shares of the software maker’s stock valued at $1,230,000 after purchasing an additional 18 shares during the period. CYBER HORNET ETFs LLC lifted its stake in shares of Intuit by 4.1% during the third quarter. CYBER HORNET ETFs LLC now owns 753 shares of the software maker’s stock worth $514,000 after purchasing an additional 30 shares in the last quarter. Finally, Scientech Research LLC lifted its stake in shares of Intuit by 1.7% during the third quarter. Scientech Research LLC now owns 1,908 shares of the software maker’s stock worth $1,303,000 after purchasing an additional 32 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.