SG Americas Securities LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 172.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 674,982 shares of the software maker’s stock after acquiring an additional 426,952 shares during the quarter. SG Americas Securities LLC’s holdings in Intuit were worth $291,849,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Intuit in the 4th quarter worth approximately $3,058,407,000. Alliancebernstein L.P. boosted its position in shares of Intuit by 183.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,999,737 shares of the software maker’s stock worth $1,365,640,000 after purchasing an additional 1,295,199 shares during the period. Nicholas Hoffman & Company LLC. acquired a new stake in Intuit in the 1st quarter valued at approximately $785,564,000. Arrowstreet Capital Limited Partnership increased its holdings in Intuit by 36.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,923,842 shares of the software maker’s stock valued at $1,274,391,000 after purchasing an additional 512,684 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Intuit by 20.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock valued at $1,848,954,000 after purchasing an additional 471,451 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Intuit
In related news, Director Richard L. Dalzell sold 284 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $282.20, for a total transaction of $80,144.80. Following the sale, the director directly owned 12,042 shares in the company, valued at approximately $3,398,252.40. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of Intuit stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $309.71 per share, for a total transaction of $154,855.00. Following the acquisition, the director owned 1,750 shares of the company’s stock, valued at $541,992.50. This represents a 40.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 955 shares of company stock worth $273,855 in the last ninety days. 2.49% of the stock is owned by corporate insiders.
Key Intuit News
- Positive Sentiment: Intuit’s latest quarterly results were solid, with EPS and revenue both beating estimates and revenue rising 10.4% year over year, while Credit Karma continued to show traction with 15% revenue growth. Credit Karma Gains Traction: Can It Continue Boosting Intuit’s Growth?
- Positive Sentiment: Some commentary remains constructive on Intuit’s AI strategy, with the company pushing automation across tax, accounting, and marketing tools and repositioning itself around AI-driven products. Intuit (INTU) Cuts 17% Of Jobs As It Pushes Harder Into AI
- Neutral Sentiment: Intuit raised about $1.74 billion through senior notes, which adds financial flexibility but also increases leverage slightly. Is Intuit (INTU) One of the Best Generative AI Software Stocks to Buy?
- Negative Sentiment: Stifel downgraded Intuit to Hold from Buy and cut its price target sharply to $275 from $375, citing growth concerns and the risk that guidance could come down as pricing changes take effect. Stifel downgrades Intuit to Hold on growth concerns, cuts target price
- Negative Sentiment: Several reports say the stock has been hit by AI fears and a steep post-earnings selloff, with investors questioning whether growth can reaccelerate soon. Intuit (INTU) Down 13.1% Since Last Earnings Report: Can It Rebound?
- Negative Sentiment: Intuit also faces legal overhang after law firms announced investigations into possible securities fraud tied to pricing issues and the stock’s sharp decline. Investor Rights Alert: Intuit (INTU) is being Investigated by BFA Law for Securities Fraud after Pricing Issues Cause 20% Stock Drop
Analysts Set New Price Targets
Several research firms have recently commented on INTU. Mizuho lowered their price target on Intuit from $600.00 to $500.00 and set an “outperform” rating for the company in a research report on Tuesday, May 26th. Daiwa Securities Group cut their price objective on Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Intuit from $600.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. HSBC lowered their target price on Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Citigroup cut their price target on shares of Intuit from $649.00 to $591.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Twenty-three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $511.35.
Check Out Our Latest Stock Report on INTU
Intuit Stock Performance
NASDAQ:INTU opened at $267.00 on Monday. Intuit Inc. has a 52 week low of $259.23 and a 52 week high of $813.70. The company has a fifty day simple moving average of $349.67 and a two-hundred day simple moving average of $460.02. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market cap of $73.04 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.98 and a beta of 0.98.
Intuit (NASDAQ:INTU – Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $0.23. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $11.65 earnings per share. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.
Intuit Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, July 9th will be given a $1.20 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Intuit’s dividend payout ratio (DPR) is currently 29.07%.
About Intuit
Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.
Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.
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