WINTON GROUP Ltd cut its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 86.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,280 shares of the software maker’s stock after selling 20,243 shares during the period. WINTON GROUP Ltd’s holdings in Intuit were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Fiduciary Financial Advisors purchased a new position in shares of Intuit during the 2nd quarter valued at about $25,000. Sankala Group LLC purchased a new stake in shares of Intuit in the fourth quarter worth about $40,000. Whipplewood Advisors LLC acquired a new stake in Intuit during the first quarter worth about $30,000. HHM Wealth Advisors LLC grew its holdings in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after acquiring an additional 30 shares during the period. Finally, CrossGen Wealth LLC purchased a new position in Intuit during the first quarter valued at approximately $32,000. 83.66% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CAO Lauren Hotz sold 907 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total value of $314,311.78. Following the transaction, the chief accounting officer owned 1,628 shares in the company, valued at $564,167.12. This trade represents a 35.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Dalzell sold 285 shares of Intuit stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the sale, the director directly owned 11,531 shares in the company, valued at $3,751,726.16. This represents a 2.41% 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 1,476 shares of company stock valued at $481,538 in the last three months. Insiders own 2.49% of the company’s stock.
Intuit Stock Up 5.5%
Intuit (NASDAQ:INTU – Get Free Report) last released its earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the previous year, the company earned $2.75 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Equities analysts predict that Intuit Inc. will post 23.49 EPS for the current fiscal year.
Intuit Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Thursday, October 8th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Thursday, October 8th. This is an increase from Intuit’s previous quarterly dividend of $1.20. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.6%. Intuit’s payout ratio is currently 29.09%.
Analysts Set New Price Targets
Several research firms have commented on INTU. Deutsche Bank Aktiengesellschaft lowered their price objective on Intuit from $530.00 to $425.00 and set a “buy” rating on the stock in a research report on Wednesday, August 19th. Evercore reiterated an “outperform” rating on shares of Intuit in a research note on Tuesday, August 18th. Royal Bank Of Canada restated an “outperform” rating and set a $385.00 price target on shares of Intuit in a research report on Friday. KeyCorp set a $400.00 price objective on shares of Intuit in a report on Wednesday, August 26th. Finally, Daiwa Securities Group cut their price target on Intuit from $640.00 to $500.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Seventeen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Hold” and an average target price of $430.97.
Read Our Latest Stock Report on INTU
Intuit Profile
Intuit Inc is a financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, tax obligations and customer relationships. The company is headquartered in Mountain View, California, and serves customers primarily in the United States and Canada, with additional international availability for certain products.
Its principal offerings include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, invoicing, payroll and payments tools for small businesses and self-employed individuals; Credit Karma, a personal finance platform offering credit monitoring and related financial products; and Mailchimp, an email marketing and customer engagement service for businesses.
Intuit was founded in 1983 by Scott Cook and Tom Proulx.
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