Equitable Holdings Inc. purchased a new stake in Intuit Inc. (NASDAQ:INTU – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,455 shares of the software maker’s stock, valued at approximately $1,424,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Coastal Bridge Advisors LLC bought a new stake in Intuit during the 2nd quarter worth approximately $1,937,000. Jefferies Financial Group Inc. purchased a new stake in shares of Intuit in the second quarter worth approximately $414,000. Public Employees Retirement System of Ohio bought a new position in shares of Intuit in the second quarter valued at approximately $26,845,000. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Intuit in the second quarter valued at approximately $1,948,000. Finally, PenderFund Capital Management Ltd. purchased a new position in shares of Intuit during the second quarter valued at approximately $235,000. Institutional investors and hedge funds own 83.66% of the company’s stock.
Key Intuit News
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.
Insider Activity
Analyst Upgrades and Downgrades
INTU has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on Intuit from $530.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday, August 19th. Susquehanna dropped their price objective on Intuit from $427.00 to $415.00 and set a “positive” rating on the stock in a research note on Wednesday. Freedom Capital downgraded shares of Intuit from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Daiwa Securities Group reduced their target price on shares of Intuit from $640.00 to $500.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Bank of America lowered shares of Intuit from a “buy” rating to a “neutral” rating and set a $360.00 price target on the stock. in a research report on Wednesday. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Hold” and a consensus target price of $434.68.
Read Our Latest Stock Analysis on Intuit
Intuit Stock Performance
Shares of Intuit stock opened at $358.06 on Friday. The business’s fifty day simple moving average is $307.36 and its 200 day simple moving average is $356.70. The firm has a market capitalization of $97.94 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. Intuit Inc. has a 12 month low of $252.84 and a 12 month 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.
Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.45. The business had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Intuit had a return on equity of 25.97% and a net margin of 21.29%.The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.75 earnings per share. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. As a group, analysts anticipate that Intuit Inc. will post 23 EPS for the current year.
Intuit Increases Dividend
The business also recently declared 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. This is an increase from Intuit’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.5%. Intuit’s payout ratio is presently 29.09%.
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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