W1M Asset Management Ltd Makes New Investment in Intuit Inc. $INTU

W1M Asset Management Ltd bought a new stake in Intuit Inc. (NASDAQ:INTU) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,867 shares of the software maker’s stock, valued at approximately $487,000.

Several other hedge funds have also made changes to their positions in INTU. XXEC Inc. acquired a new position in Intuit in the 2nd quarter valued at about $436,740,000. BlackRock Inc. acquired a new stake in Intuit during the 2nd quarter worth approximately $6,851,859,000. Norges Bank purchased a new position in shares of Intuit in the 4th quarter valued at approximately $3,058,407,000. Bank of New York Mellon Corp acquired a new position in shares of Intuit in the second quarter valued at approximately $564,592,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Intuit by 102.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock valued at $1,684,795,000 after purchasing an additional 1,972,719 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $367.00 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $100.39 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. The firm has a 50-day moving average price of $299.09 and a two-hundred day moving average price of $359.96. Intuit Inc. has a twelve month low of $252.84 and a twelve month high of $705.08.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 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 analyst estimates of $8.54 billion. During the same period in the prior year, the business earned $11.65 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total transaction of $74,498.88. Following the completion of the sale, the director owned 11,758 shares in the company, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director directly owned 1,750 shares in the company, valued at $541,992.50. The trade was a 40.00% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 1,239 shares of company stock worth $348,354. 2.49% of the stock is owned by insiders.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTU. Barclays decreased their price target on Intuit from $540.00 to $443.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Piper Sandler restated an “underweight” rating and set a $250.00 price objective on shares of Intuit in a research report on Wednesday. BMO Capital Markets dropped their price target on shares of Intuit from $550.00 to $412.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Truist Financial reaffirmed a “hold” rating and issued a $350.00 price objective (down from $410.00) on shares of Intuit in a report on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $451.26.

About Intuit

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.