Intuit (NASDAQ:INTU) Updates Q4 Earnings Guidance

Intuit (NASDAQ:INTU – Get Rating) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.43-1.48 for the period, compared to the consensus earnings per share estimate of $1.51. The company issued revenue guidance of $2.63-2.66 billion, compared to the consensus revenue estimate of $2.45 billion.

Intuit Price Performance

Shares of INTU stock opened at $413.10 on Friday. The stock’s fifty day moving average is $433.52 and its 200-day moving average is $412.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.23 and a current ratio of 1.51. The stock has a market capitalization of $115.69 billion, a PE ratio of 52.16, a PEG ratio of 3.11 and a beta of 1.19. Intuit has a 52 week low of $352.63 and a 52 week high of $490.83.

Intuit (NASDAQ:INTU – Get Rating) last issued its quarterly earnings results on Tuesday, May 23rd. The software maker reported $8.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.30 by $1.62. Intuit had a return on equity of 16.50% and a net margin of 15.91%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the prior year, the firm posted $6.70 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts expect that Intuit will post 9 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, July 7th. Intuit’s dividend payout ratio (DPR) is presently 39.39%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com raised Intuit from a hold rating to a buy rating in a research note on Friday. Piper Sandler decreased their price objective on Intuit from $510.00 to $497.00 in a report on Wednesday. KeyCorp increased their price objective on Intuit from $475.00 to $485.00 and gave the stock an overweight rating in a report on Monday, April 17th. Barclays increased their price objective on Intuit from $465.00 to $495.00 in a report on Monday, May 15th. Finally, Atlantic Securities started coverage on Intuit in a report on Monday, April 24th. They set an overweight rating and a $530.00 price objective for the company. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $491.35.

Insider Buying and Selling

In related news, CFO Michelle M. Clatterbuck sold 545 shares of Intuit stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $421.38, for a total transaction of $229,652.10. Following the completion of the sale, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at approximately $568,863. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intuit news, CFO Michelle M. Clatterbuck sold 545 shares of Intuit stock in a transaction on Monday, February 27th. The stock was sold at an average price of $421.38, for a total value of $229,652.10. Following the completion of the transaction, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at approximately $568,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 500 shares of Intuit stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total value of $206,580.00. Following the completion of the transaction, the chief accounting officer now owns 1,781 shares in the company, valued at approximately $735,837.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,328 shares of company stock valued at $3,019,323. Insiders own 3.18% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several hedge funds and other institutional investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC increased its stake in shares of Intuit by 3.1% in the 4th quarter. SeaCrest Wealth Management LLC now owns 806 shares of the software maker’s stock valued at $314,000 after purchasing an additional 24 shares during the last quarter. Syntax Advisors LLC grew its position in Intuit by 5.0% during the 4th quarter. Syntax Advisors LLC now owns 571 shares of the software maker’s stock worth $222,000 after acquiring an additional 27 shares during the last quarter. First Commonwealth Financial Corp PA grew its position in Intuit by 2.3% during the 1st quarter. First Commonwealth Financial Corp PA now owns 1,548 shares of the software maker’s stock worth $744,000 after acquiring an additional 35 shares during the last quarter. AJ Wealth Strategies LLC grew its position in Intuit by 6.1% during the 1st quarter. AJ Wealth Strategies LLC now owns 675 shares of the software maker’s stock worth $325,000 after acquiring an additional 39 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC grew its position in Intuit by 24.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 222 shares of the software maker’s stock worth $107,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 82.65% of the company’s stock.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.