Intuit Inc. $INTU Holdings Trimmed by Summit Global Investments

Summit Global Investments cut its stake in Intuit Inc. (NASDAQ:INTU) by 54.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,593 shares of the software maker’s stock after selling 3,139 shares during the period. Summit Global Investments’ holdings in Intuit were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Fiduciary Financial Advisors bought a new stake in shares of Intuit during the second quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Intuit in the first quarter valued at approximately $30,000. Osbon Capital Management LLC acquired a new stake in shares of Intuit in the second quarter valued at approximately $26,000. MidFirst Bank bought a new position in Intuit in the 2nd quarter worth approximately $28,000. Finally, James T. Borello RIA raised its position in Intuit by 350.0% in the 3rd quarter. James T. Borello RIA now owns 108 shares of the software maker’s stock worth $30,000 after purchasing an additional 84 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on INTU shares. Evercore reiterated an “outperform” rating on shares of Intuit in a research report on Friday, September 18th. BMO Capital Markets restated an “outperform” rating on shares of Intuit in a research report on Monday, September 21st. UBS Group restated a “neutral” rating on shares of Intuit in a research report on Friday, September 18th. Wolfe Research lowered Intuit from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 26th. Finally, Citigroup decreased their price target on Intuit from $591.00 to $457.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Hold” and a consensus target price of $431.55.

Intuit Trading Up 3.2%

INTU opened at $352.10 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $94.10 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. The firm has a 50 day simple moving average of $319.08 and a 200 day simple moving average of $361.12. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $682.27.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the firm earned $2.75 earnings per share. The business’s revenue for the quarter 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. On average, sell-side analysts anticipate that Intuit Inc. will post 23.02 earnings per share for the current year.

Intuit Increases Dividend

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

Insiders Place Their Bets

In related news, CAO Lauren Hotz sold 907 shares of Intuit stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the completion of the sale, the chief accounting officer directly owned 1,628 shares of the company’s stock, valued at $564,167.12. The trade was a 35.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Dalzell sold 285 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the sale, the director owned 11,531 shares of the company’s stock, valued at $3,751,726.16. This represents a 2.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is owned by insiders.

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.