Intuit (INTU) Sets New 12-Month High and Low Following Strong Earnings

Shares of Intuit (NASDAQ:INTU) hit a new 52-week high and low during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as low as $196.97 and last traded at $196.23, with a volume of 2177568 shares. The stock had previously closed at $190.54.

The software maker reported $4.82 EPS for the quarter, beating the consensus estimate of $4.68 by $0.14. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.86 billion. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.90 EPS.

Several brokerages recently weighed in on INTU. Oppenheimer increased their target price on Intuit from $181.00 to $206.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley increased their target price on Intuit from $147.00 to $154.00 and gave the company an “underweight” rating in a report on Wednesday. Credit Suisse Group increased their target price on Intuit from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Intuit from $176.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus increased their target price on Intuit from $180.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Intuit presently has a consensus rating of “Hold” and an average target price of $186.89.



In other Intuit news, insider Scott D. Cook sold 259,205 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $171.72, for a total value of $44,510,682.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Scott D. Cook sold 159,556 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $170.26, for a total value of $27,166,004.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 849,809 shares of company stock valued at $147,885,200. Company insiders own 5.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Intuit by 3.0% in the 4th quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock worth $2,669,740,000 after buying an additional 486,554 shares during the period. Geode Capital Management LLC lifted its holdings in Intuit by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 3,020,966 shares of the software maker’s stock worth $475,804,000 after buying an additional 167,550 shares during the period. OppenheimerFunds Inc. lifted its holdings in Intuit by 8.8% in the 1st quarter. OppenheimerFunds Inc. now owns 2,958,604 shares of the software maker’s stock worth $512,874,000 after buying an additional 239,143 shares during the period. Royal Bank of Canada lifted its holdings in Intuit by 1.7% in the 1st quarter. Royal Bank of Canada now owns 2,887,262 shares of the software maker’s stock worth $500,508,000 after buying an additional 48,265 shares during the period. Finally, Lindsell Train Ltd lifted its holdings in Intuit by 2.8% in the 1st quarter. Lindsell Train Ltd now owns 2,458,200 shares of the software maker’s stock worth $426,129,000 after buying an additional 67,400 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

The stock has a market capitalization of $49.09 billion, a PE ratio of 52.06, a P/E/G ratio of 2.66 and a beta of 1.13. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.36.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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