Varma Mutual Pension Insurance Co Makes New Investment in Intuit Inc. $INTU

Varma Mutual Pension Insurance Co acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 50,958 shares of the software maker’s stock, valued at approximately $13,300,000.

Other institutional investors have also modified their holdings of the company. XXEC Inc. purchased a new position in Intuit during the 2nd quarter worth $436,740,000. Westpac Banking Corp acquired a new stake in shares of Intuit during the second quarter worth about $6,238,000. Sumitomo Life Insurance Co. acquired a new stake in shares of Intuit during the second quarter worth about $498,000. GCQ FUNDS MANAGEMENT PTY Ltd purchased a new position in shares of Intuit during the second quarter worth about $67,180,000. Finally, William Blair Investment Management LLC acquired a new position in Intuit in the 2nd quarter valued at about $34,555,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on INTU shares. HSBC reduced their target price on shares of Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Oppenheimer cut their price target on shares of Intuit from $558.00 to $406.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. UBS Group restated a “neutral” rating on shares of Intuit in a research report on Tuesday, August 18th. Daiwa Securities Group lowered their price objective on Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Rothschild & Co Redburn cut their target price on Intuit from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Twenty investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $449.65.

Insider Activity

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the 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 completion of the transaction, the director directly owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $309.71 per share, for a total transaction of $154,855.00. Following the purchase, the director directly owned 1,750 shares in the company, valued at approximately $541,992.50. This represents a 40.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 1,239 shares of company stock worth $348,354 over the last 90 days. 2.49% of the stock is currently owned by company insiders.

Trending Headlines about Intuit

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 NASDAQ INTU opened at $367.00 on Monday. 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 $705.08. The firm has a 50-day moving average price of $299.09 and a 200 day moving average price of $359.07. The stock has a market capitalization of $100.39 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97.

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.