SummitTX Capital L.P. Takes $6.42 Million Position in Intuit Inc. $INTU

SummitTX Capital L.P. acquired a new position in Intuit Inc. (NASDAQ:INTU) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,843 shares of the software maker’s stock, valued at approximately $6,418,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Vanguard Group Inc. raised its position in shares of Intuit by 1.0% in the fourth 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. State Street Corp grew its stake 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 raised its holdings in Intuit by 1.3% during 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 acquiring an additional 87,451 shares during the period. Morgan Stanley lifted its position in shares of Intuit by 1.2% during the fourth 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 in the last quarter. Finally, Norges Bank bought a new position in shares of Intuit in the fourth quarter worth $3,058,407,000. Institutional investors own 83.66% of the company’s stock.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit is highlighted as an “AI winner” that uses artificial intelligence behind the scenes to reduce costs and improve operating efficiency rather than relying solely on AI product sales. The article also cites strong recent earnings and supportive analyst ratings. These 3 AI Winners Don’t Sell the Tech—They Use It
• Positive Sentiment: The stock’s outperformance in the latest session may have attracted additional momentum-focused buying. Intuit’s latest reported quarter included revenue growth of 10.4% year over year and earnings that exceeded analyst expectations, providing a fundamental backdrop for the advance. Intuit Rises Higher Than Market: Key Facts
• Neutral Sentiment: Multiple law firms reminded investors of September 8–9 deadlines to seek lead-plaintiff status in a securities class action covering purchases made from August 22, 2025, through May 20, 2026. These notices largely repeat existing allegations and do not represent a new company operating update. Rosen Securities Class Action Notice
• Negative Sentiment: The class action alleges that Intuit made material misstatements or omissions about the strength of its tax-related business and TurboTax growth outlook. The litigation follows a sharp prior stock decline and could create legal costs, reputational risk and continued investor uncertainty. Intuit Class Action Lawsuit Notice
• Negative Sentiment: An investment-fund review says Intuit has lost investor appeal because of concerns about AI disruption and future earnings, signaling that valuation and competitive-growth risks remain overhangs despite the recent rebound. Intuit Lost Appeal on AI Disruption and Earnings Concerns

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INTU. TD Cowen cut Intuit from a “buy” rating to a “negative” rating in a report on Tuesday. Oppenheimer reduced their target price on Intuit from $558.00 to $406.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. Weiss Ratings downgraded shares of Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. KeyCorp lowered their price target on shares of Intuit from $520.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Finally, Truist Financial cut their price objective on shares of Intuit from $500.00 to $410.00 and set a “buy” 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 four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $468.84.

Insider Activity at Intuit

In other Intuit news, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total transaction of $74,498.88. Following the completion of the sale, the director directly owned 11,758 shares in the company, valued at $3,084,358.56. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was bought 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 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. Over the last quarter, insiders have sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is currently owned by company insiders.

Intuit Price Performance

Intuit stock opened at $303.91 on Tuesday. The stock has a market cap of $83.13 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.09 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $291.65 and a 200 day simple moving average of $389.50. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $813.70.

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

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Thursday, July 9th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, July 9th. Intuit’s dividend payout ratio (DPR) is currently 29.07%.

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.