Stock Watch: News of Split Carries Intuit

Shares of personal finance software company Intuit (Nasdaq: INTU) climbed more than 6 percent on Friday, gaining 5-15/16 to 103 one day after the company announced a 3-for-1 stock split. The split will take place on September 30 and be payable to shareholders of record on September 20. The stock of Intuit is near its all-time high of 110, but for a fast-growing company that is becoming a force on the Internet, it still looks like a good buy. Intuit launched its Internet payroll service during fiscal 1999 and now has more than 6,000 businesses using the service. For its fiscal year that ended on July 31, Intuit had revenue of $847.6 million, a 43 percent increase from the year before. In addition, Intuit had net income of $376.5 million, or $5.91 a share compared to a loss of 24 cents per share the year before.

The stock of Intuit is near its all-time high of 110, but for a fast-growing company that is becoming a force on the Internet, it still looks like a good buy. Intuit launched its Internet payroll service during fiscal 1999 and now has more than 6,000 businesses using the service. For its fiscal year that ended on July 31, Intuit had revenue of $847.6 million, a 43 percent increase from the year before. In addition, Intuit had net income of $376.5 million, or $5.91 a share compared to a loss of 24 cents per share the year before.

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