Intuit, the software company that was formed for helping people in the navigation of US tax code complexities has now been gaining in terms of stocks for 11 straight years now. The company, which created TurboTax has been gaining continuous popularity in terms of stock gains and popularity.
In the current year, Intuit shares have gone up almost 36%, and by any means, it is regarded as an extremely impressive run for any business, more so during a time that is going through a lot of political and economic rough weather.
What is more remarkable is the fact that the stocks of Intuit have been up by more than 850% in the last decade, thereby enjoying an average of 25% during each of the last 10 years.
With a market value of nearly $69.5 billion, Intuit is one of the most promising computer companies, providing user-friendly, DIY online tax-prep software platform called TurboTax for its customers. Besides TurboTax, the company also comes out with a small business accounting software platform called QuickBooks.
One of the main reasons why the company has seen such remarkable progress is because it has grasped the rising popularity of online filing of tax with open hands, providing suitable platforms that will help in a seamless computation of tax and online filing of the same.
As per a recent study, 68% of people say that they are toying with the idea of turning to online tax filing. This is a far improved scenario than 10 years back when only 53% of people had similar thoughts. This is where Intuit has capitalized and excelled.
The company has consolidated its position in the DIY space by developing user-friendly software solutions. Intuit had announced last month that QuickBooks, its online payroll solution will assist employees with dental as well as medical insurance. Value-added features like this are likely to earn huge revenues for QuickBooks, just as TurboTax did last year.