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 ProConnect. The Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Online Advanced, a cloud-based solution; QuickBooks Enterprise, a hosted solution; QuickBooks Self-Employed solution; QuickBooks Commerce, a solution for product-based businesses; QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; and 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. This segment also offers payment-processing solutions, including credit and debit cards, Apple Pay, and ACH payment services; QuickBooks Cash business bank account; and financial supplies and financing for small businesses. The Consumer segment provides TurboTax income tax preparation products and services; and personal finance. The Credit Karma segment offers consumers with a personal finance platform that provides personalized recommendations of home, auto, and personal loans, as well as credit cards and insurance products. The ProConnect segment provides Lacerte, ProSeries, and ProFile desktop tax-preparation software products; and ProConnect Tax Online tax products, electronic tax filing service, and bank products and related services. It sells products and services through various sales and distribution channels, including multi-channel shop-and-buy experiences, websites and call centers, mobile application stores, and retail and other channels. The company was founded in 1983 and is headquartered in Mountain View, California.
Intuit Price Performance
INTU traded down $13.81 on Friday, reaching $463.95. 1,508,442 shares of the company's stock were exchanged, compared to its average volume of 1,846,663. Intuit has a twelve month low of $339.36 and a twelve month high of $716.86. The stock has a market cap of $130.87 billion, a PE ratio of 52.21, a P/E/G ratio of 3.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.63 and a quick ratio of 1.63. The stock's fifty day moving average price is $418.74 and its 200-day moving average price is $442.33.
Intuit (NASDAQ:INTU - Get Rating) last issued its earnings results on Tuesday, May 24th. The software maker reported $6.70 earnings per share for the quarter, hitting the consensus estimate of $6.70. Intuit had a return on equity of 20.77% and a net margin of 19.44%. The business had revenue of $5.63 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the previous year, the firm posted $5.45 EPS. The business's revenue for the quarter was up 35.0% compared to the same quarter last year. Sell-side analysts expect that Intuit will post 8.22 EPS for the current year.
Intuit Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 18th. Stockholders of record on Monday, July 11th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, July 8th. This represents a $2.72 annualized dividend and a dividend yield of 0.59%. Intuit's dividend payout ratio is presently 30.84%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on INTU. William Blair reiterated an "outperform" rating on shares of Intuit in a report on Wednesday, May 25th. Oppenheimer decreased their target price on shares of Intuit to $476.00 in a research report on Wednesday, May 25th. Wells Fargo & Company cut their price target on Intuit from $635.00 to $550.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 25th. Bank of America lowered their target price on Intuit from $650.00 to $530.00 and set a "buy" rating on the stock in a research note on Wednesday, May 25th. Finally, Piper Sandler cut their target price on shares of Intuit from $674.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday, May 25th. One investment analyst has rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target of $573.28.
Insider Activity
In related news, EVP James Alexander Chriss sold 984 shares of the firm's stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $386.29, for a total transaction of $380,109.36. Following the completion of the sale, the executive vice president now directly owns 343 shares in the company, valued at $132,497.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP James Alexander Chriss sold 984 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $386.29, for a total value of $380,109.36. Following the completion of the transaction, the executive vice president now directly owns 343 shares in the company, valued at $132,497.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raul Vazquez sold 1,790 shares of the firm's stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $390.37, for a total value of $698,762.30. Following the sale, the director now directly owns 2,019 shares of the company's stock, valued at approximately $788,157.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,774 shares of company stock valued at $5,002,772. 3.27% of the stock is currently owned by insiders.
