William Blair Investment Management LLC Invests $34.55 Million in Intuit Inc. $INTU

William Blair Investment Management LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 132,394 shares of the software maker’s stock, valued at approximately $34,555,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Joseph Group Capital Management bought a new position in Intuit in the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. MidFirst Bank bought a new stake in shares of Intuit in the 2nd quarter worth approximately $28,000. HHM Wealth Advisors LLC lifted its holdings in shares of Intuit by 75.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after purchasing an additional 30 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Intuit in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Key Stories Impacting Intuit

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

Intuit Stock Up 1.4%

NASDAQ INTU opened at $367.00 on Friday. 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’s 50 day simple moving average is $299.09 and its 200 day simple moving average is $359.96. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $705.08. The company has a market capitalization of $100.39 billion, a P/E ratio of 22.23, a PEG ratio of 1.15 and a beta of 0.97.

Intuit (NASDAQ:INTU) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $11.65 earnings per share. Equities research analysts expect that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Vasant M. Prabhu acquired 500 shares of Intuit stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $309.71 per share, with a total value of $154,855.00. Following the completion of the purchase, the director owned 1,750 shares of the company’s stock, valued at $541,992.50. This represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard L. Dalzell sold 284 shares of the firm’s 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 transaction, the director owned 11,758 shares of the company’s stock, valued at approximately $3,084,358.56. The trade was a 2.36% 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 90 days, insiders have sold 1,239 shares of company stock worth $348,354. Corporate insiders own 2.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INTU shares. Argus lowered their price objective on Intuit from $580.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. BNP Paribas Exane cut their target price on Intuit from $463.00 to $315.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Wells Fargo & Company reduced their price target on shares of Intuit from $425.00 to $360.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Citigroup lowered their price target on shares of Intuit from $591.00 to $457.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Erste Group Bank raised shares of Intuit to a “hold” rating in a report on Monday, April 27th. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.