Magellan Asset Management Ltd Grows Stock Position in Intuit Inc. $INTU

Magellan Asset Management Ltd increased its stake in Intuit Inc. (NASDAQ:INTU) by 18.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 362,416 shares of the software maker’s stock after buying an additional 56,895 shares during the quarter. Intuit comprises approximately 2.0% of Magellan Asset Management Ltd’s holdings, making the stock its 21st largest holding. Magellan Asset Management Ltd’s holdings in Intuit were worth $156,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rakuten Investment Management Inc. grew its stake in shares of Intuit by 522.3% during the fourth quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock valued at $34,852,000 after buying an additional 43,389 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Intuit by 20.3% during the 4th 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 acquiring an additional 471,451 shares during the last quarter. Vestcor Inc lifted its stake in shares of Intuit by 79.1% during the 4th quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock worth $13,723,000 after acquiring an additional 9,148 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Intuit by 119.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock valued at $37,452,000 after acquiring an additional 47,148 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in Intuit by 13.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker’s stock valued at $39,728,000 after acquiring an additional 6,999 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on INTU shares. Daiwa Securities Group reduced their target price on Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. KeyCorp lowered their target price on shares of Intuit from $520.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Wall Street Zen cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Finally, BMO Capital Markets decreased their price objective on shares of Intuit from $550.00 to $412.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. Twenty-one analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $468.84.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 284 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total transaction of $74,498.88. Following the transaction, the director directly owned 11,758 shares in the company, valued at $3,084,358.56. This represents a 2.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 500 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $309.71 per share, for a total transaction of $154,855.00. Following the transaction, the director directly owned 1,750 shares in the company, valued at approximately $541,992.50. This trade represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by insiders.

Intuit Trading Down 1.3%

INTU opened at $289.92 on Wednesday. The stock’s fifty day moving average is $299.25 and its two-hundred day moving average is $399.41. The company has a market capitalization of $79.30 billion, a P/E ratio of 17.56, a PEG ratio of 1.08 and a beta of 1.00. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $813.70. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, beating analysts’ consensus estimates of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same period in the previous year, the company posted $11.65 EPS. Intuit’s revenue was up 10.4% on a year-over-year basis. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Analysts forecast that Intuit Inc. will post 18.18 earnings per share for the current year.

Intuit Dividend Announcement

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

Intuit News Roundup

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

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.