Flossbach Von Storch SE Buys New Stake in Intuit Inc. $INTU

Flossbach Von Storch SE acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the second quarter, HoldingsChannel.com reports. The firm acquired 336,713 shares of the software maker’s stock, valued at approximately $87,882,000.

Several other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Intuit in the second quarter valued at about $6,851,859,000. Norges Bank purchased a new position in shares of Intuit during the fourth quarter worth about $3,058,407,000. Bank of New York Mellon Corp acquired a new position in Intuit in the 2nd quarter valued at about $564,592,000. Arrowstreet Capital Limited Partnership raised its stake in Intuit by 102.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock valued at $1,684,795,000 after acquiring an additional 1,972,719 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $426,641,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America started coverage on shares of Intuit in a research note on Wednesday, May 27th. They issued a “buy” rating and a $400.00 price objective on the stock. TD Cowen reiterated a “buy” rating on shares of Intuit in a research note on Tuesday. Wall Street Zen cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Daiwa Securities Group reduced their price objective 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. Finally, Mizuho lowered their price objective on Intuit from $500.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday. Twenty equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $451.26.

Intuit Stock Performance

Intuit stock opened at $362.47 on Thursday. 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 fifty day moving average of $295.58 and a two-hundred day moving average of $360.88. The company has a market capitalization of $99.15 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.11 and a beta of 0.97. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $705.10.

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

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of the business’s 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 sale, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. The trade was a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu acquired 1,250 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was acquired 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 approximately $386,812.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 1,239 shares of company stock valued at $348,354. Corporate insiders own 2.49% of the company’s stock.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit benefited from a broader rotation into enterprise software after weakness in AI hardware stocks. The move suggests traders are reassessing the durability and valuation of software businesses, although it may be a short-term sector trade. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Investor commentary highlighted Intuit’s potential to use AI through its AI-native enterprise resource planning products and Intuit Intelligence chat. A separate investment analysis argued that tax preparation and AI could complement one another, supporting the long-term growth narrative. Intuit Expanding AI-Native ERP
• Positive Sentiment: A GuruFocus analysis cited a GF Score of 78, reflecting relatively favorable quality, growth, profitability, and valuation characteristics. Intuit’s latest reported quarter also showed year-over-year revenue growth and an earnings-per-share beat, providing fundamental support for the rebound. Intuit GF Score Analysis

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.