UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,334,328 shares of the software maker’s stock after acquiring an additional 215,814 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.22% of Intuit worth $870,260,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Intesa Sanpaolo Wealth Management acquired a new position in Intuit in the 4th quarter valued at $25,000. Pin Oak Investment Advisors Inc. bought a new stake in Intuit in the 3rd quarter valued at about $33,000. Birchwood Financial Partners Inc. bought a new position in shares of Intuit during the fourth quarter worth approximately $33,000. Fiduciary Financial Advisors acquired a new stake in shares of Intuit in the second quarter valued at approximately $25,000. Finally, Sankala Group LLC bought a new stake in shares of Intuit in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.66% of the company’s stock.
Intuit Trading Up 2.9%
Shares of INTU stock opened at $358.06 on Friday. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $705.08. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.34. The stock has a market cap of $97.94 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 0.92 and a beta of 0.97. The stock has a 50-day moving average of $307.36 and a 200-day moving average of $356.70.
Intuit Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 8th will be issued a $1.38 dividend. The ex-dividend date is Thursday, October 8th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Intuit’s previous quarterly dividend of $1.20. Intuit’s dividend payout ratio (DPR) is 29.09%.
Analyst Upgrades and Downgrades
INTU has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Intuit from $276.00 to $304.00 and gave the company a “sell” rating in a research note on Wednesday. Piper Sandler raised their target price on shares of Intuit from $250.00 to $290.00 and gave the company an “underweight” rating in a report on Wednesday. Freedom Capital lowered shares of Intuit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. UBS Group set a $370.00 target price on Intuit in a research note on Thursday. Finally, Wolfe Research lowered Intuit from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $434.68.
View Our Latest Report on INTU
Insider Transactions at Intuit
In other Intuit news, CAO Lauren D. Hotz sold 907 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the sale, the chief accounting officer directly owned 1,628 shares of the company’s stock, valued at approximately $564,167.12. This represents a 35.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of the transaction, the director directly owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,146 shares of company stock valued at $662,666 in the last quarter. Company insiders own 2.49% of the company’s stock.
Key Stories Impacting Intuit
Here are the key news stories impacting Intuit this week:
- Positive Sentiment: Management’s planned strategy to reduce initial revenue per TurboTax do-it-yourself customer could help restore customer volume and support longer-term growth. The approach suggests the weakness is a strategic reset focused on winning back users rather than an immediate deterioration in the overall business. Intuit is Lowering TurboTax Revenue per User to Win Customers
- Positive Sentiment: Analysts and investors continue to point to Intuit’s mid-market expansion, artificial-intelligence adoption and substantial share repurchases as potential offsets to slower consumer-tax growth. One analysis characterized the earnings reset as a pivot rather than a breakdown in the company’s fundamentals. Intuit’s Earnings Reset May Be More Pivot Than Plunge
- Neutral Sentiment: Intuit is reorganizing its reporting structure, with Mailchimp becoming a separate reportable segment beginning in fiscal 2027. This may improve transparency around the company’s different growth engines but does not by itself change financial performance. Mailchimp Becomes a Separate Operating Segment
- Negative Sentiment: TurboTax underperformance and competitive pricing pressure remain the primary concerns. Fiscal 2027 revenue growth is expected at only 9% to 10%, with TurboTax growth projected at 2% to 3%; near-term revenue guidance also trailed analyst estimates. Intuit’s Real Problem Is Not on Its Income Statement
- Negative Sentiment: Several firms lowered their ratings or price targets, including downgrades from Bank of America, JPMorgan and Wolfe Research and target reductions from Oppenheimer and Truist. The analyst actions reflect concern that the slower-growth outlook warrants a lower valuation.
- Negative Sentiment: Multiple law firms publicized securities-fraud class-action deadlines for September 8, alleging that Intuit misrepresented the strength of its tax-related business. These announcements add reputational and potential legal overhang, although the allegations have not been proven.
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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