5,039 Shares in Intuit Inc. $INTU Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,039 shares of the software maker’s stock, valued at approximately $1,315,000.

Other large investors have also modified their holdings of the company. Rakuten Investment Management Inc. increased its position in shares of Intuit by 522.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock valued at $34,852,000 after acquiring an additional 43,389 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Intuit by 20.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock valued at $1,848,954,000 after purchasing an additional 471,451 shares during the period. Vestcor Inc raised its stake in shares of Intuit by 79.1% in the fourth quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock worth $13,723,000 after purchasing an additional 9,148 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Intuit by 119.5% during the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock worth $37,452,000 after purchasing an additional 47,148 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Intuit by 13.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker’s stock valued at $39,728,000 after buying an additional 6,999 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Software-sector rotation supported INTU. A sharp selloff in AI hardware stocks redirected capital toward enterprise software companies, including Intuit, Monday.com and HubSpot. Investors may be reassessing the durability and valuation of software businesses after their recent weakness, although the article cautions that the move could be a short-term trading rotation. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Growth and AI initiatives remain part of the bullish case. Coverage highlighted Intuit’s expansion of AI-native enterprise resource planning tools and the launch of Intuit Intelligence. Analysts and financial commentary also point to growth in advanced products, a potentially large mid-market opportunity and expectations for earnings growth. Intuit’s latest reported quarter included revenue growth of 10.4% year over year and an EPS beat.
• Positive Sentiment: Mizuho retained a favorable view despite reducing its target. Mizuho lowered its price target from $500 to $430 but maintained an “outperform” rating, signaling that the firm still sees meaningful upside after becoming more conservative on valuation or growth assumptions.

Insiders Place Their Bets

In other news, Director Vasant M. Prabhu acquired 1,250 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $309.45 per share, for a total transaction of $386,812.50. Following the completion of the transaction, the director owned 1,250 shares in the company, valued at approximately $386,812.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the director directly owned 12,326 shares in the company, 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. Insiders sold 1,239 shares of company stock valued at $348,354 in the last ninety days. 2.49% of the stock is owned by corporate insiders.

Intuit Price Performance

NASDAQ:INTU opened at $350.41 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The company has a 50 day moving average price of $294.02 and a 200-day moving average price of $361.87. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $719.10. The firm has a market cap of $95.85 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.97.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $11.65 earnings per share. Equities research analysts forecast that Intuit Inc. will post 18.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on INTU shares. Daiwa Securities Group reduced their price target on shares of Intuit from $640.00 to $500.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Wall Street Zen cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company decreased their target price on shares of Intuit from $425.00 to $360.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft cut their price target on Intuit from $600.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Finally, Jefferies Financial Group decreased their price objective on Intuit from $650.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Twenty equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $454.65.

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.