Connor Clark & Lunn Investment Management Ltd. Sells 40,266 Shares of Intuit Inc. $INTU

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 57.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 29,719 shares of the software maker’s stock after selling 40,266 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Intuit were worth $23,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock valued at $1,890,282,000 after acquiring an additional 36,513 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Intuit during the second quarter valued at approximately $1,733,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Intuit by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker’s stock valued at $1,130,718,000 after acquiring an additional 82,419 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Intuit by 1.1% during the 2nd quarter. New York Life Investment Management LLC now owns 41,830 shares of the software maker’s stock worth $32,947,000 after purchasing an additional 442 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in Intuit by 22.1% during the 1st quarter. Vident Advisory LLC now owns 46,940 shares of the software maker’s stock worth $28,821,000 after purchasing an additional 8,510 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the transaction, the director owned 14,475 shares of the company’s stock, valued at approximately $9,570,146.25. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 1,170 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $677.06, for a total value of $792,160.20. Following the transaction, the chief financial officer owned 1,295 shares of the company’s stock, valued at $876,792.70. This trade represents a 47.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,407 shares of company stock worth $1,614,913. 2.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Rothschild & Co Redburn raised their price target on shares of Intuit from $560.00 to $670.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Stifel Nicolaus decreased their target price on shares of Intuit from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Oppenheimer upped their price target on Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Barclays reduced their price target on Intuit from $815.00 to $785.00 and set an “overweight” rating on the stock in a report on Friday, August 22nd. Finally, Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $791.82.

Intuit Trading Down 0.7%

NASDAQ INTU opened at $648.85 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market capitalization of $180.90 billion, a P/E ratio of 47.22, a PEG ratio of 2.53 and a beta of 1.25. The firm’s 50-day moving average is $668.65 and its two-hundred day moving average is $705.97. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm earned $1.99 EPS. The business’s revenue was up 20.3% on a year-over-year basis. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Thursday, October 9th were paid a $1.20 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This is a boost from Intuit’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 0.7%. Intuit’s payout ratio is presently 34.93%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.