Madison Asset Management LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 2,005.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 25,264 shares of the software maker’s stock after buying an additional 24,064 shares during the period. Madison Asset Management LLC’s holdings in Intuit were worth $10,924,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Brighton Jones LLC increased its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock valued at $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after acquiring an additional 482 shares during the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in Intuit during the 1st quarter valued at about $785,564,000. Sivia Capital Partners LLC raised its position in Intuit by 23.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 886 shares of the software maker’s stock valued at $698,000 after purchasing an additional 166 shares during the last quarter. Finally, Florida Financial Advisors LLC raised its position in Intuit by 12.2% during the 2nd quarter. Florida Financial Advisors LLC now owns 470 shares of the software maker’s stock valued at $370,000 after purchasing an additional 51 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Intuit news, Director Vasant M. Prabhu bought 1,250 shares of Intuit stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $309.45 per share, with a total value of $386,812.50. Following the transaction, the director directly owned 1,250 shares of the company’s stock, valued at $386,812.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. Dalzell sold 338 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the transaction, the director owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. The trade was a 2.67% 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. In the last quarter, insiders sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by corporate insiders.
Key Intuit News
- Positive Sentiment: Several articles still highlight Intuit as a long-term growth and value name, with analysts and market commentary pointing to strong franchise quality and upside potential after the recent selloff. Why Intuit (INTU) is a Top Growth Stock for the Long-Term
- Positive Sentiment: One note from L1 Capital International described the decline in Intuit shares as an overreaction, suggesting some investors see the weakness as excessive relative to the company’s fundamentals. L1 Capital International Sees Intuit’s (INTU) Decline as Market’s Overreaction
- Neutral Sentiment: Coverage also noted that Intuit’s TurboTax Live business is performing well, even as the company works to refresh DIY tax products with simpler offerings and more competitive pricing to win back cost-conscious filers. Intuit’s TurboTax Live Is Thriving: Can It Offset DIY Choppiness?
- Negative Sentiment: Fresh class-action filings and law-firm alerts accused Intuit of securities-law violations and alleged misrepresentations about pricing pressure and TurboTax’s competitive advantages, which can weigh on sentiment and keep investors cautious. Pomerantz Law Firm Announces the Filing of a Class Action Against Intuit Inc. and Certain Officers – INTU
- Negative Sentiment: Brokerage commentary also turned more cautious, with Morgan Stanley’s mixed stance on software names contributing to weakness in Intuit alongside peers. Adobe, Salesforce and Intuit fall as Morgan Stanley begins cautious coverage
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Barclays cut their price objective on Intuit from $540.00 to $443.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. UBS Group decreased their target price on Intuit from $440.00 to $360.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. BNP Paribas Exane dropped their price target on Intuit from $463.00 to $315.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Bank of America began coverage on shares of Intuit in a report on Wednesday, May 27th. They issued a “buy” rating and a $400.00 price target on the stock. Finally, Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $580.00 to $335.00 in a research report on Tuesday. Twenty-one equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $468.84.
Read Our Latest Analysis on Intuit
Intuit Stock Performance
Intuit stock opened at $289.92 on Wednesday. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $813.70. The stock’s 50 day simple moving average is $299.25 and its two-hundred day simple moving average is $399.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $79.30 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.08 and a beta of 1.00.
Intuit (NASDAQ:INTU – Get Free Report) last announced its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.65 EPS. 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 expect that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.
Intuit Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Thursday, July 9th were issued a $1.20 dividend. The ex-dividend date was Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Intuit’s dividend payout ratio is 29.07%.
Intuit Company 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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