Magellan Asset Management Ltd Purchases 56,895 Shares of Intuit Inc. $INTU

Magellan Asset Management Ltd lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 18.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 362,416 shares of the software maker’s stock after buying an additional 56,895 shares during the quarter. Intuit makes up 2.0% of Magellan Asset Management Ltd’s holdings, making the stock its 21st largest holding. Magellan Asset Management Ltd owned 0.13% of Intuit worth $156,701,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Intuit during the fourth quarter valued at about $3,058,407,000. Nicholas Hoffman & Company LLC. bought a new position in shares of Intuit in the first quarter worth about $785,564,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intuit by 36.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,923,842 shares of the software maker’s stock worth $1,274,391,000 after acquiring an additional 512,684 shares during the period. Bank of New York Mellon Corp grew its position in shares of Intuit by 20.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock worth $1,848,954,000 after purchasing an additional 471,451 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Intuit by 172.1% during the first quarter. SG Americas Securities LLC now owns 674,982 shares of the software maker’s stock worth $291,849,000 after purchasing an additional 426,952 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the sale, the director directly owned 12,326 shares in the company, valued at $3,449,554.36. The trade was a 2.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 1,250 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were 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 directly owned 1,250 shares in the company, valued at approximately $386,812.50. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 1,239 shares of company stock valued at $348,354 in the last quarter. 2.49% of the stock is owned by company insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $289.92 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. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $813.70. The stock’s 50 day simple moving average is $299.25 and its two-hundred day simple moving average is $399.41. The company has a market cap of $79.30 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.08 and a beta of 1.00.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Thursday, July 9th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Intuit’s dividend payout ratio is presently 29.07%.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Several articles still highlight Intuit as a long-term growth and value name, with analysts and market commentary pointing to strong franchise quality and upside potential after the recent selloff. Why Intuit (INTU) is a Top Growth Stock for the Long-Term
• Positive Sentiment: One note from L1 Capital International described the decline in Intuit shares as an overreaction, suggesting some investors see the weakness as excessive relative to the company’s fundamentals. L1 Capital International Sees Intuit’s (INTU) Decline as Market’s Overreaction
• Neutral Sentiment: Coverage also noted that Intuit’s TurboTax Live business is performing well, even as the company works to refresh DIY tax products with simpler offerings and more competitive pricing to win back cost-conscious filers. Intuit’s TurboTax Live Is Thriving: Can It Offset DIY Choppiness?
• Negative Sentiment: Fresh class-action filings and law-firm alerts accused Intuit of securities-law violations and alleged misrepresentations about pricing pressure and TurboTax’s competitive advantages, which can weigh on sentiment and keep investors cautious. Pomerantz Law Firm Announces the Filing of a Class Action Against Intuit Inc. and Certain Officers – INTU
• Negative Sentiment: Brokerage commentary also turned more cautious, with Morgan Stanley’s mixed stance on software names contributing to weakness in Intuit alongside peers. Adobe, Salesforce and Intuit fall as Morgan Stanley begins cautious coverage

Analysts Set New Price Targets

INTU has been the topic of several recent analyst reports. TD Cowen decreased their target price on Intuit from $576.00 to $504.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Citigroup dropped their price target on Intuit from $649.00 to $591.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Susquehanna cut their price objective on shares of Intuit from $550.00 to $427.00 and set a “positive” rating for the company in a report on Monday. Wall Street Zen cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $275.00 target price (down from $375.00) on shares of Intuit in a report on Wednesday, June 17th. Twenty-one 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, the company currently has an average rating of “Moderate Buy” and an average price target of $468.84.

Intuit Company 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.