Magellan Asset Management Ltd Boosts Stake in Intuit Inc. $INTU

Magellan Asset Management Ltd raised its position in Intuit Inc. (NASDAQ:INTU) by 7.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 305,521 shares of the software maker’s stock after purchasing an additional 20,469 shares during the period. Intuit makes up approximately 2.5% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 12th biggest position. Magellan Asset Management Ltd’s holdings in Intuit were worth $202,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Brighton Jones LLC boosted its position in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock valued at $2,233,000 after buying an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock valued at $511,000 after purchasing an additional 482 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Intuit in the 1st quarter valued at about $785,564,000. Sivia Capital Partners LLC raised its stake in shares of Intuit by 23.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 886 shares of the software maker’s stock valued at $698,000 after purchasing an additional 166 shares in the last quarter. Finally, Florida Financial Advisors LLC raised its stake in shares of Intuit by 12.2% in the 2nd quarter. Florida Financial Advisors LLC now owns 470 shares of the software maker’s stock valued at $370,000 after purchasing an additional 51 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen dropped their price objective on shares of Intuit from $576.00 to $504.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Erste Group Bank upgraded shares of Intuit to a “hold” rating in a research note on Monday, April 27th. 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 target on the stock. Oppenheimer dropped their price target on shares of Intuit from $558.00 to $406.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Finally, HSBC decreased their price objective on shares of Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Twenty-four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $514.58.

Insider Buying and Selling

In related news, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $440.40, for a total transaction of $146,653.20. Following the completion of the sale, the director directly owned 13,253 shares in the company, valued at approximately $5,836,621.20. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vasant M. Prabhu bought 500 shares of Intuit stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $309.71 per share, with a total value of $154,855.00. Following the completion of the acquisition, the director directly owned 1,750 shares of the company’s stock, valued at $541,992.50. This represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.49% of the company’s stock.

Intuit Trading Down 3.1%

Intuit stock opened at $301.86 on Friday. The stock has a market capitalization of $82.57 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. Intuit Inc. has a 12-month low of $300.50 and a 12-month high of $813.70. 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 firm has a 50 day simple moving average of $380.18 and a 200-day simple moving average of $487.99.

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. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, equities research analysts expect that Intuit Inc. will post 18.07 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, July 9th. Intuit’s dividend payout ratio (DPR) is presently 29.07%.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Intuit investors, adding to concerns that the company could face shareholder litigation over its disclosures. Article
• Negative Sentiment: BFA Law and Schall Law both highlighted pending securities-fraud investigations related to Intuit’s pricing claims, reinforcing worries about potential legal overhang and management credibility. Article
• Negative Sentiment: Goldman Sachs reportedly cut Intuit, with one report citing intensifying AI-driven tax competition, which may signal slowing growth and margin pressure ahead. Article
• Neutral Sentiment: Intuit also announced upcoming investor conference presentations by CFO Sandeep Aujla and executive Mark Notarainni, which keeps management visible to the market but is unlikely by itself to move the stock materially. Article
• Neutral Sentiment: Some coverage continued to highlight Intuit as a top-ranked software name, but these pieces were more generic and did not offset the legal and analyst headlines driving sentiment. Article

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.