William Blair Investment Management LLC Purchases New Stake in Intuit Inc. $INTU

William Blair Investment Management LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 132,394 shares of the software maker’s stock, valued at approximately $34,555,000.

A number of other institutional investors have also recently bought and sold shares of INTU. Vanguard Group Inc. increased its holdings in shares of Intuit by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock valued at $19,156,152,000 after purchasing an additional 296,448 shares during the period. BlackRock Inc. acquired a new stake in shares of Intuit during the second quarter worth approximately $6,851,859,000. State Street Corp boosted its holdings in shares of Intuit by 1.4% during the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock worth $8,653,092,000 after purchasing an additional 180,069 shares during the period. Geode Capital Management LLC grew its position in Intuit by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock valued at $4,369,488,000 after purchasing an additional 87,451 shares in the last quarter. Finally, Morgan Stanley grew its position in Intuit by 1.2% during the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock valued at $3,378,912,000 after purchasing an additional 60,910 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Key Intuit News

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 Price Performance

Shares of INTU opened at $367.00 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $100.39 billion, a PE ratio of 22.23, a PEG ratio of 1.15 and a beta of 0.97. The firm’s 50 day moving average price is $299.09 and its 200 day moving average price is $359.96. Intuit Inc. has a twelve month low of $252.84 and a twelve month high of $705.08.

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

Insiders Place Their Bets

In other news, Director Richard L. Dalzell sold 338 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the transaction, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu acquired 500 shares of Intuit stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director owned 1,750 shares in the company, valued at $541,992.50. The trade was a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,239 shares of company stock worth $348,354 in the last 90 days. 2.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on INTU. Jefferies Financial Group dropped their price objective on shares of Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Weiss Ratings lowered shares of Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Wells Fargo & Company lowered their price target on shares of Intuit from $425.00 to $360.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Wolfe Research reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Intuit in a research note on Thursday, May 21st. Finally, BMO Capital Markets reduced their price objective on Intuit from $550.00 to $412.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. Twenty investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $451.26.

Intuit 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.