Intuit (INTU) Releases Earnings Results, Beats Expectations By $0.43 EPS
Intuit (NASDAQ:INTU) announced its quarterly earnings results on Thursday. The software maker reported $5.55 EPS for the quarter, beating the Zacks’ consensus estimate of $5.12 by $0.43, RTT News reports. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. Intuit’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.82 EPS.
Shares of Intuit stock traded down $6.22 on Thursday, hitting $241.31. 1,425,744 shares of the company traded hands, compared to its average volume of 1,515,756. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $63.75 billion, a P/E ratio of 53.27, a price-to-earnings-growth ratio of 2.87 and a beta of 1.14. Intuit has a 12-month low of $182.61 and a 12-month high of $272.14.
Several research firms have issued reports on INTU. Deutsche Bank increased their target price on shares of Intuit from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. BidaskClub cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Zacks Investment Research cut shares of Intuit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Morgan Stanley increased their target price on shares of Intuit from $225.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Monday, March 25th. Finally, KeyCorp increased their target price on shares of Intuit from $255.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $243.26.
Institutional investors have recently bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of Intuit by 11.3% during the 1st quarter. Assetmark Inc. now owns 442 shares of the software maker’s stock valued at $116,000 after purchasing an additional 45 shares during the last quarter. CX Institutional grew its holdings in Intuit by 85.5% in the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after acquiring an additional 47 shares during the last quarter. Parsons Capital Management Inc. RI grew its holdings in Intuit by 0.3% in the 4th quarter. Parsons Capital Management Inc. RI now owns 17,091 shares of the software maker’s stock worth $3,364,000 after acquiring an additional 48 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Intuit by 4.8% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,055 shares of the software maker’s stock worth $208,000 after acquiring an additional 48 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in Intuit by 0.6% in the 1st quarter. Wealthfront Advisers LLC now owns 8,675 shares of the software maker’s stock worth $2,268,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 87.45% of the company’s stock.
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Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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