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Intuit Inc. (INTU)

  • Dec. 9, 2013, 5:47 PM
    • After-hours Top Gainers, as of 5:15 p.m.: CMTL +6.5%. DIOD +4.7%. FMI +4.2%. INTU +3.3%. LL +3.3%.
    • After-hours Top Losers, as of 5:15 p.m.: PBY -14.8%. MACK -8.9%. PLCE -5.2%. TA -4.4%. DAR -4.1%.
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  • Dec. 4, 2013, 6:22 PM
    • Intuit (INTU) is acquiring Docstoc, a document-focused resource site for small businesses that claims 25M+ registered users. AllThingsD reports the purchase price "could reach $50 million."
    • Docstoc offers 20M+ professional documents on its site, along with articles, videos, and other content aimed at SMBs. Some of its content is free, while other material requires subscription plans. The startup also provides a platform for uploading, syncing, and selling user-created documents.
    • Docstoc is the latest in a string of SMB-focused acquisitions made by Intuit, which recently obtained $1.025B from the sale of its online/mobile banking software unit (but apparently could've obtained more).
    • Other recent acquisitions include workers comp. tech provider Prestwick Services, tax return software firm GoodApril, and Facebook ad/e-commerce services provider Payvment.
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  • Dec. 3, 2013, 5:31 PM
    • NCR's (NCR -2.7%) $1.65B acquisition of Digital Insight will help the company conceal its "inability to grow EPS 14-18% organically as guided," says Wedbush, which is reiterating a Neutral.
    • The firm also questions NCR's ability to cross-sell Digital's online/mobile banking software, and thinks it paid a steep price (16x EBITDA), especially since Intuit (INTU) sold Digital to Thoma Bravo for just $1.025B a few months ago. But it's worth noting sources tell Fortune intuit was forced to sell low due to the fact it was "intent on selling Digital Insight at warp speed."
    • Compass Point, which has upgraded NCR to Buy, is more positive. It sees the acquisitions of both Digital Insight and Alaric Systems improving NCR's financial service growth and margin profile, and notes NCR's business mix now looks "much more like major financial technology players such as Fiserv and FIS Global as compared to legacy competitor Diebold."
    • Industry analyst David Albertazzi likes how the deal expands NCR's multi-channel banking reach, given how many transactions have "migrated out of [bank] branches," and thinks ATM could use Digital Insight to create services relying on both ATMs and mobile apps.
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  • Nov. 21, 2013, 4:24 PM
    • Intuit (INTU): FQ1 EPS of -$0.06 beats by $0.03.
    • Revenue of $622.0M (+11% Y/Y) beats by $19.M. Shares -1.59% . (PR)
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  • Nov. 21, 2013, 12:10 AM
  • Nov. 20, 2013, 5:35 PM
  • Nov. 20, 2013, 3:13 PM
    • Silver Lake has hired investment banks to lead a potential IPO of payment processing company Mercury Payment Systems, reports Reuters. The news comes not far behind reports competitor Square is exploring an IPO.
    • A source says the Mercury IPO could come in 2014 H1 and the company could be valued at $2.5B -  a funding round last year valued Square at $3.25B. Mercury booked revenue of $203M in 2012 vs. Square's expectation of $550M this year.
    • Silver Lake purchased about 60% of the company in 2010, leaving founders Marc and Jeffrey Katz and existing investor Larry Stone owning the remainder.
    • Other competitors include: EBAY (PayPal), GRPN, INTU, and PAY.
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  • Nov. 20, 2013, 1:54 PM
    • Intuit (INTU +0.1%) is acquiring Prestwick Services, provider of a workers compensation platform for small businesses that, according to Intuit, provides more accurate insurance premium calculations and eliminates large up-front prepayments.
    • Whereas traditional workers comp. solutions rely on prepayments based on estimates, Prestwick's Trupay offering calculates payments in real-team, and adjusts them as employee changes take place.
    • Intuit plans to offer Prestick's solution to its 1M Payroll service customers. The company will be added to Intuit's Employee Management Solutions unit.
    • Recent Intuit acquisitions: GoodApril, Level Up Analytics, Payvment
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  • Oct. 18, 2013, 9:34 AM
    • AMD (AMD -12.7%) has been cut to Neutral by BofA/Merrill after beating Q3 estimates and providing above-consensus Q4 revenue guidance, but also reporting a 15% Y/Y drop in CPU division sales due to PC weakness.
    • Verizon (VZ +0.8%) has been upgraded to Buy by Stifel a day after beating Q3 estimates and reporting better-than-expected mobile subscriber adds.
    • Amazon (AMZN +2.4%) has been upgraded to Buy by UBS ahead of its Oct. 24 Q3 report.
    • VMware (VMW +2.8%) has been upgraded to Overweight by JPMorgan ahead of Monday's Q3 report.
    • T-Mobile USA (TMUS +2.7%) has been added to Goldman's Conviction Buy list ahead of its Nov. 5 Q3 report.
    • Intuit (INTU +2.6%) has been upgraded to Buy by BofA/Merrill.
    • Align Technology (ALGN +24.4%) has been upgraded to Buy by Cantor following its Q3 beat.
    • LG Display (LPL -0.2%) has been cut to Hold by Craig-Hallum after issuing a Q4 warning.
    • Ultratech (UTEK -10.2%) has been cut to Hold by Canaccord following its Q3 miss.
    • Sierra Wireless (SWIR -1%) has been cut to Market Perform by Raymond James; Q3 results arrive on Nov. 7.
    • Aspen Technology (AZPN -0.9%) has been cut to Neutral by JPMorgan.
    • Analog chipmakers International Rectifier (IRF -1.7%) and Monolithic Power (MPWR -1.3%) have been cut to Market Perform by Wells Fargo.
    • U.S. Cellular (USM -1.2%) has been started at Underperform by FBR.
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  • Oct. 14, 2013, 11:20 AM
    • Xero, perhaps the biggest of several online accounting software firms challenging Intuit's (INTU -0.3%) mainstay QuickBooks franchise, has raised $150M in funding  to help finance additional growth.
    • New Zealand-based Xero claims to have 193K business clients for its online accounting/bookkeeping platform. Subscriptions go for $19-$39/month, and support an unlimited number of users. QuickBooks Online goes for $13-$40/month.
    • Xero shares rose 9.8% in New Zealand on the news. The company's market cap stands at $1.9B.
    • Intuit gave QuickBooks Online a big refresh last month in an effort to counter Xero, WorkingPoint, and other upstarts. The platform has ~500K subs.
  • Sep. 24, 2013, 1:55 PM
    • Intuit (INTU -0.3%) has given its QuickBooks Online accounting software platform (aimed at both SMBs and accountants) a big refresh. The update, which was influenced by the design of Intuit's personal finance platform, delivers a simpler, less cluttered UI, integrates Intuit's Payroll and Payments tools, and (in an effort to create an ecosystem) allows developers to create apps/services that connect to QuickBooks. (PR)
    • Intuit charges $125/year for QuickBooks Online, and has nearly 500K subs. The platform is facing growing competition from startups such as WorkingPoint and Kashoo.
    • Along with the refresh, Intuit is announcing a Quickbooks integration deal with Square, whose mobile card readers now processing transactions at a $15B/year run rate. The tie-up comes even though Intuit's GoPayment platform competes with Square.
    • Intuit is also reaffirming its FQ1 and FY14 revenue and EPS guidance. The reiterating comes a couple months after the company announced a deal unload its financial services unit to Thoma Bravo for $1.025B, and stated it would focus on consumer tax and small business products going forward.
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  • Sep. 18, 2013, 9:40 AM
    • Nokia (NOK +3.3%) has been upgraded to Outperform by Credit Suisse after being upgraded by the firm to Neutral two weeks ago. Plenty of other firms have also upgraded (I, II) Nokia since the Microsoft deal was announced.
    • ServiceNow (NOW +3.5%) has been upgraded to Overweight by Morgan Stanley.
    • Maxwell (MXWL +8.6%) has been upgraded to Overweight by Piper.
    • Intuit (INTU -1.5%) has been cut to Underweight by Morgan Stanley.
    • AVG (AVG +3.1%) has been started at Buy by Nomura.
    • Cogent (CCOI +0.6%) has been started at Outperform by Pac Crest.
    • Cognizant (CTSH +2.7%) has been upgraded to Overweight by Barclays.
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  • Aug. 20, 2013, 4:13 PM
    • Intuit (INTU) bumps it quarterly dividend to $0.19/share from $0.17/share, representing an annual yield of 1.20%.
    • The dividend is payable in 18 Oct, to shareholders on record of Oct 10. Shares -2.7% AH. (PR)
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  • Aug. 20, 2013, 4:05 PM
    • Intuit (INTU): FQ4 EPS of $0.00 beats by $0.01.
    • Revenue of $634M (+12% Y/Y) misses by $24.05M. Shares -2.7% AH. (PR)
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  • Aug. 20, 2013, 12:10 AM
  • Aug. 19, 2013, 5:35 PM
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Company Description
Intuit Inc creates business and financial management solutions that help simplify the business of life for small businesses, consumers, and accounting professionals. The Company operates in three segments; Small Business, Consumer, and Professional Tax.
Sector: Technology
Country: United States