is looking like a good investment. Listed on NASDAQ as INTU, the company’s stock has gained 57.08 percent
Intuit is classified as being in the Technology Services sector, Packaged Software industry. Financial pages
list its competitors as Adobe Systems [ADBE
], Salesforce.com [CRM
], Symantec [SYMC
] and CA Technologies [CA
]. CA does not stand for California in this case; the company formerly was called Computer Associates, but has expanded their scope into managing and security IT environments.
Intuit, however, is based in California, in the well-known Silicon Valley area. The company has also expanded its scope, resulting in earnings growth last year of 31.11 percent and 13.95 percent this year. Intuit is beating the Nasdaq composite by a respectful amount. Their $15.5 billion market cap puts the company in fourth place in the application software industry
, behind Microsoft, Oracle, and SAP. In June, Moody’s
said that Intuit has maintained a leadership position in the consumer tax and small financial software arena even in the slowed economy.
Intuit has embraced the cloud, and provides online versions of its boxed applications. This move reduces the need for packaging and eliminates distribution costs. Acquisitions of Mint, a budgeting service, and Medfusion, a health care administration package, have added to its stable of offerings. The company is increasing its geographical scope as well. Money Manager has recently been launched in India.
The stable of products began with QuickBooks, Quicken, and TurboTax, all aimed at personal and small business bookkeeping and income tax preparation. The products have professional versions as well. Intuit’s Financial Services is directed at larger businesses, rather than individuals. It is designed specifically to provide online banking solutions and services to banks and credit unions.
Brad D. Smith is President and Chief Executive Officer of the company he has been with since 2003. His income reflects Intuit’s success. Reuters quotes his fiscal year total as $4,814,830 which includes annual salary and "other".
A founder of the company, Scott Cook now serves as the chairman of the Executive Committee. He has stuck with Intuit since its inception in 1983. Intuit is one of a very few start ups to retain its originator over the long haul. Not to be left out of the social media pool, Intuit has garnered two 2010 Forrester Groundswell Awards
from the independent research firm Forrester Research
. The awards were bestowed for the TurboTax Live Community
widget that connects people to free tax advice and for Intuit Brainstorm
, a tool that helps innovators share and evolve their ideas.
No matter which angle you look at Intuit from, the company is Lookin’ Good
© 2009 - 2013 Bright Side Of News*, All rights reserved.