1,095,488 Shares in Intuit Inc. $INTU Acquired by Generation Investment Management LLP

Generation Investment Management LLP bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,095,488 shares of the software maker’s stock, valued at approximately $285,922,000. Intuit comprises about 2.8% of Generation Investment Management LLP’s holdings, making the stock its 14th biggest position.

Several other large investors have also modified their holdings of INTU. Vanguard Group Inc. increased its position in shares of Intuit by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock worth $19,156,152,000 after purchasing an additional 296,448 shares during the last quarter. BlackRock Inc. purchased a new position in Intuit during the second quarter worth about $6,851,859,000. State Street Corp boosted its stake in 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 buying an additional 180,069 shares during the period. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 87,451 shares during the last quarter. Finally, Morgan Stanley raised 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 valued at $3,378,912,000 after acquiring an additional 60,910 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho lowered their price objective on shares of Intuit from $500.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday. Rothschild & Co Redburn cut their target price on Intuit from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, June 2nd. Oppenheimer lowered their price target on Intuit from $558.00 to $406.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. Wolfe Research reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Intuit in a research note on Thursday, May 21st. Finally, Wells Fargo & Company cut their price objective on Intuit from $425.00 to $360.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Twenty equities 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 stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $451.26.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit benefited from a broader rotation into enterprise software after weakness in AI hardware stocks. The move suggests traders are reassessing the durability and valuation of software businesses, although it may be a short-term sector trade. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Investor commentary highlighted Intuit’s potential to use AI through its AI-native enterprise resource planning products and Intuit Intelligence chat. A separate investment analysis argued that tax preparation and AI could complement one another, supporting the long-term growth narrative. Intuit Expanding AI-Native ERP
• Positive Sentiment: A GuruFocus analysis cited a GF Score of 78, reflecting relatively favorable quality, growth, profitability, and valuation characteristics. Intuit’s latest reported quarter also showed year-over-year revenue growth and an earnings-per-share beat, providing fundamental support for the rebound. Intuit GF Score Analysis

Insiders Place Their Bets

In other news, Director Richard L. Dalzell sold 338 shares of Intuit stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu acquired 1,250 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $309.45 per share, with a total value of $386,812.50. Following the completion of the transaction, the director owned 1,250 shares of the company’s stock, valued at approximately $386,812.50. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders 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

Shares of INTU opened at $362.47 on Thursday. The company has a market cap of $99.15 billion, a P/E ratio of 21.95, a PEG ratio of 1.11 and a beta of 0.97. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $705.10. 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 firm’s 50 day moving average price is $295.58 and its 200 day moving average price is $360.88.

Intuit (NASDAQ:INTU) last posted its quarterly 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. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.65 earnings per share. On average, research analysts forecast that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

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.