Perigon Wealth Management LLC Makes New $1.31 Million Investment in Intuit Inc. $INTU

Perigon Wealth Management LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,039 shares of the software maker’s stock, valued at approximately $1,315,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Intuit by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock worth $19,156,152,000 after buying an additional 296,448 shares in the last quarter. State Street Corp grew its holdings in Intuit by 1.4% in the 4th quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock valued at $8,653,092,000 after buying an additional 180,069 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intuit by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock valued at $4,369,488,000 after buying an additional 87,451 shares in the last quarter. Morgan Stanley increased its stake in shares of Intuit by 1.2% in the 4th quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after acquiring an additional 60,910 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Intuit in the 4th quarter worth $3,058,407,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of Intuit stock opened at $350.41 on Wednesday. The firm has a market cap of $95.85 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.97. 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 Inc. has a 52 week low of $252.84 and a 52 week high of $719.10. The business’s fifty day simple moving average is $294.02 and its 200-day simple moving average is $361.87.

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 analysts’ consensus estimates of $12.57 by $0.23. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the company earned $11.65 EPS. Equities analysts forecast that Intuit Inc. will post 18.18 earnings per share for the current year.

Insider Transactions at Intuit

In related news, Director Richard L. Dalzell sold 338 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the sale, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. The trade was a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 purchased 1,250 shares of Intuit stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $309.45 per share, for a total transaction of $386,812.50. Following the transaction, the director directly owned 1,250 shares of the company’s stock, valued at approximately $386,812.50. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 1,239 shares of company stock worth $348,354 in the last ninety days. 2.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INTU has been the topic of several recent research reports. Barclays lowered their price target on shares of Intuit from $540.00 to $443.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Jefferies Financial Group cut their price objective on shares of Intuit from $650.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Piper Sandler initiated coverage on shares of Intuit in a research note on Tuesday, July 14th. They set an “underweight” rating and a $250.00 target price on the stock. Bank of America started coverage on shares of Intuit in a report on Wednesday, May 27th. They issued a “buy” rating and a $400.00 target price on the stock. Finally, Susquehanna dropped their price target on shares of Intuit from $550.00 to $427.00 and set a “positive” rating for the company in a research note on Monday, July 20th. Twenty research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $454.65.

More Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Software-sector rotation supported INTU. A sharp selloff in AI hardware stocks redirected capital toward enterprise software companies, including Intuit, Monday.com and HubSpot. Investors may be reassessing the durability and valuation of software businesses after their recent weakness, although the article cautions that the move could be a short-term trading rotation. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Growth and AI initiatives remain part of the bullish case. Coverage highlighted Intuit’s expansion of AI-native enterprise resource planning tools and the launch of Intuit Intelligence. Analysts and financial commentary also point to growth in advanced products, a potentially large mid-market opportunity and expectations for earnings growth. Intuit’s latest reported quarter included revenue growth of 10.4% year over year and an EPS beat.
• Positive Sentiment: Mizuho retained a favorable view despite reducing its target. Mizuho lowered its price target from $500 to $430 but maintained an “outperform” rating, signaling that the firm still sees meaningful upside after becoming more conservative on valuation or growth assumptions.

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.