Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,471 shares of the software maker’s stock, valued at approximately $7,953,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock valued at $19,156,152,000 after purchasing an additional 296,448 shares during the last quarter. BlackRock Inc. bought a new stake in Intuit in the second quarter worth $6,851,859,000. State Street Corp boosted its position in Intuit by 1.4% during the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock valued at $8,653,092,000 after buying an additional 180,069 shares during the period. Geode Capital Management LLC grew its stake in shares of Intuit by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock valued at $4,369,488,000 after buying an additional 87,451 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Intuit by 1.2% in the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after buying an additional 60,910 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Key Headlines Impacting Intuit
Here are the key news stories impacting Intuit this week:
- Positive Sentiment: Intuit’s growth opportunity remains substantial: analysts highlighted a nearly $90 billion mid-market opportunity, with advanced QuickBooks and other products potentially offsetting pressure in the do-it-yourself tax business. INTU Targets a Massive Mid-Market Opportunity
- Positive Sentiment: Mizuho lowered its price target to $430 from $500 but maintained an “outperform” rating, implying meaningful upside from recent trading levels. The company also recently exceeded quarterly earnings and revenue expectations, with revenue up 10.4% year over year. Mizuho Intuit Price Target Update
- Neutral Sentiment: Investor attention is focused on Intuit’s upcoming August 25 earnings report, with market discussions centering on expected growth, TurboTax and QuickBooks performance, and whether artificial intelligence will strengthen or disrupt tax and accounting software.
- Negative Sentiment: Several law firms—including Faruqi & Faruqi, Kessler Topaz, Levi & Korsinsky, Schall Brown & Schwartz, and Rosen—issued notices promoting the pending securities-fraud lawsuit. Although these notices do not establish liability or quantify damages, their volume reinforces investor concerns about possible litigation costs, reputational damage, and scrutiny of TurboTax growth disclosures. Intuit Class Action Notice
- Negative Sentiment: The Mizuho target reduction signals that analysts have become more cautious about Intuit’s near-term outlook, even though the firm retained its bullish rating. Mizuho Intuit Price Target Update
Intuit Price Performance
Intuit (NASDAQ:INTU – Get Free Report) last posted its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the previous year, the firm posted $11.65 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. 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, analysts predict that Intuit Inc. will post 18.18 EPS for the current year.
Insider Activity at Intuit
In other Intuit news, Director Vasant M. Prabhu bought 500 shares of Intuit stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $309.71 per share, with a total value of $154,855.00. Following the completion of the acquisition, the director owned 1,750 shares in the company, valued at approximately $541,992.50. This represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Dalzell sold 284 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the transaction, the director directly owned 11,758 shares in the company, valued at approximately $3,084,358.56. This represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,239 shares of company stock valued at $348,354 over the last 90 days. 2.49% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Erste Group Bank upgraded Intuit to a “hold” rating in a report on Monday, April 27th. KeyCorp cut their price objective on Intuit from $520.00 to $450.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Wolfe Research reiterated an “outperform” rating and set a $400.00 price target on shares of Intuit in a research report on Thursday, May 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $275.00 price target (down from $375.00) on shares of Intuit in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group downgraded shares of Intuit from a “neutral” rating to a “sell” rating and decreased their target price for the company from $519.00 to $276.00 in a research note on Tuesday, June 2nd. Nineteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $454.65.
Check Out Our Latest Research Report on Intuit
Intuit Profile
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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