Intuit (NASDAQ:INTU) Releases Quarterly Earnings Results, Misses Estimates By $2.25 EPS

Intuit (NASDAQ:INTU) issued its quarterly earnings results on Tuesday. The software maker reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.58 by ($2.25), Zacks reports. Intuit had a return on equity of 25.18% and a net margin of 21.91%.

Intuit Stock Performance

INTU traded down $12.86 during trading on Tuesday, hitting $357.06. 3,905,640 shares of the stock were exchanged, compared to its average volume of 4,331,952. The firm has a market capitalization of $97.67 billion, a P/E ratio of 21.63, a PEG ratio of 1.15 and a beta of 0.97. Intuit has a 1-year low of $252.84 and a 1-year high of $705.08. The stock has a fifty day moving average price of $300.85 and a two-hundred day moving average price of $358.61. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTU. Wolfe Research reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Intuit in a research note on Thursday, May 21st. UBS Group reissued a “neutral” rating on shares of Intuit in a research note on Tuesday, August 18th. HSBC reduced their price objective on shares of Intuit from $897.00 to $707.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Daiwa Securities Group dropped their price objective on Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Stifel Nicolaus restated a “hold” rating and set a $275.00 target price (down from $375.00) on shares of Intuit in a research note on Wednesday, June 17th. Twenty analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $449.65.

Key Headlines Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Analysts expect continued growth, with consensus estimates calling for earnings of roughly $3.58–$3.59 per share, supported by momentum in QuickBooks, Credit Karma and Intuit’s artificial-intelligence initiatives. Intuit to Report Q4 Earnings: What Should Investors Do?
• Positive Sentiment: An Intuit AI executive said the future of finance is moving toward real-time, continuously updated insights rather than monthly reporting, highlighting potential longer-term opportunities for the company’s software platform. Intuit AI expert says future of finance is real-time, not monthly

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 284 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total transaction of $74,498.88. Following the transaction, the director directly owned 11,758 shares in the company, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,239 shares of company stock valued at $348,354 over the last three months. 2.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Intuit in the 1st quarter worth $785,564,000. CIBC Private Wealth Group LLC increased its stake in shares of Intuit by 811.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 457,562 shares of the software maker’s stock worth $303,098,000 after acquiring an additional 407,375 shares during the period. FIL Ltd increased its stake in shares of Intuit by 53.6% during the fourth quarter. FIL Ltd now owns 1,125,878 shares of the software maker’s stock worth $745,804,000 after acquiring an additional 392,848 shares during the period. Viking Global Investors LP purchased a new position in Intuit during the third quarter worth about $180,381,000. Finally, AQR Capital Management LLC raised its holdings in Intuit by 88.2% during the third quarter. AQR Capital Management LLC now owns 561,583 shares of the software maker’s stock worth $383,511,000 after purchasing an additional 263,198 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

About Intuit

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.