2,903 Intuit Inc. $INTU Shares Acquired by Westside Investment Management Inc.

Westside Investment Management Inc. grew its position in Intuit Inc. (NASDAQ:INTU) by 57.1% in the third quarter, Holdings Channel.com reports. The fund owned 7,989 shares of the software maker’s stock after buying an additional 2,903 shares during the period. Westside Investment Management Inc.’s holdings in Intuit were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. XXEC Inc. bought a new stake in shares of Intuit during the second quarter valued at approximately $436,740,000. BlackRock Inc. acquired a new position in shares of Intuit in the second quarter valued at $6,851,859,000. Corient Private Wealth LP acquired a new position in shares of Intuit in the second quarter valued at $40,545,000. Bank of America Corp DE acquired a new position in shares of Intuit in the second quarter valued at $589,841,000. Finally, Bank of New York Mellon Corp bought a new position in Intuit in the second quarter worth $564,592,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America downgraded shares of Intuit from a “buy” rating to a “neutral” rating and set a $360.00 price target on the stock. in a research note on Wednesday, August 26th. Wells Fargo & Company dropped their price objective on shares of Intuit from $360.00 to $300.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 26th. Barclays dropped their price target on shares of Intuit from $443.00 to $408.00 and set an “overweight” rating for the company in a research report on Wednesday, August 26th. Evercore restated an “outperform” rating on shares of Intuit in a research note on Friday, September 18th. Finally, Jefferies Financial Group decreased their price objective on Intuit from $550.00 to $500.00 and set a “buy” rating on the stock in a report on Sunday, August 23rd. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $431.55.

Insider Buying and Selling

In other Intuit news, Director Richard L. Dalzell sold 285 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total transaction of $92,727.60. Following the transaction, the director owned 11,531 shares of the company’s stock, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the transaction, the chief accounting officer owned 1,628 shares in the company, valued at $564,167.12. The trade was a 35.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.49% of the company’s stock.

Intuit Stock Down 0.5%

Shares of NASDAQ:INTU opened at $354.84 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.34. The firm has a market cap of $94.83 billion, a P/E ratio of 21.51, a P/E/G ratio of 1.18 and a beta of 0.91. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $682.27. The company’s 50-day moving average price is $318.74 and its two-hundred day moving average price is $358.07.

Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the firm posted $2.75 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. As a group, research analysts forecast that Intuit Inc. will post 23.02 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, October 8th were issued a $1.38 dividend. This is an increase from Intuit’s previous quarterly dividend of $1.20. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, October 8th. Intuit’s dividend payout ratio (DPR) is 33.45%.

Intuit Profile

Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.

The company’s principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.