CIBC Asset Management Inc Increases Stake in Intuit Inc. $INTU

CIBC Asset Management Inc grew its position in Intuit Inc. (NASDAQ:INTU) by 29.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,328 shares of the software maker’s stock after acquiring an additional 32,965 shares during the quarter. CIBC Asset Management Inc’s holdings in Intuit were worth $95,606,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GW&K Investment Management LLC raised its stake in shares of Intuit by 8.6% in the third quarter. GW&K Investment Management LLC now owns 202 shares of the software maker’s stock valued at $138,000 after acquiring an additional 16 shares during the period. Cannell & Spears LLC raised its holdings in shares of Intuit by 0.4% in the third quarter. Cannell & Spears LLC now owns 3,868 shares of the software maker’s stock worth $2,641,000 after buying an additional 16 shares during the period. Betterment LLC raised its holdings in shares of Intuit by 2.1% in the third quarter. Betterment LLC now owns 779 shares of the software maker’s stock worth $532,000 after buying an additional 16 shares during the period. Crawford Investment Counsel Inc. raised its holdings in shares of Intuit by 4.7% in the third quarter. Crawford Investment Counsel Inc. now owns 377 shares of the software maker’s stock worth $257,000 after buying an additional 17 shares during the period. Finally, Value Partners Investments Inc. raised its holdings in shares of Intuit by 0.4% in the fourth quarter. Value Partners Investments Inc. now owns 3,963 shares of the software maker’s stock worth $2,629,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $440.40, for a total value of $146,653.20. Following the transaction, the director owned 13,253 shares of the company’s stock, valued at $5,836,621.20. The trade was a 2.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vasant M. Prabhu bought 1,250 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $309.45 per share, for a total transaction of $386,812.50. Following the completion of the purchase, the director owned 1,250 shares in the company, valued at $386,812.50. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.49% of the stock is owned by insiders.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Negative Sentiment: Goldman Sachs downgraded Intuit to Sell, citing concerns that pricing issues and competition could pressure TurboTax growth and margins. Intuit Stock Slides After Goldman Downgrades To Sell
• Negative Sentiment: Several legal headlines added to the pressure, with law firms launching securities-fraud investigations after the stock’s recent drop on pricing concerns. INTU Stock Drop: Intuit Investigated for Securities Fraud after Stock Plummets 20% on Pricing Issues
• Negative Sentiment: Forbes highlighted that Intuit has become one of the S&P 500’s worst performers this year, reflecting investor concern over how much value the company has lost in the past year. Intuit Becomes S&P 500’s Worst Performer This Year: Here’s Why
• Negative Sentiment: Another report noted that an investor could be viewing Intuit as “a falling knife,” underscoring weakening sentiment after the recent plunge. Why Is Intuit Stock Crashing, and is it a Generational Buying Opportunity?
• Neutral Sentiment: Some commentary still points to long-term strengths, including AI initiatives in Mailchimp and arguments that Intuit may be undervalued, but these positives are being overshadowed by the near-term downgrade and legal headlines. Mailchimp’s AI Bet: Can Intuit Unlock the Next Growth Lever?

Intuit Trading Down 8.9%

Shares of NASDAQ:INTU opened at $322.14 on Wednesday. Intuit Inc. has a 12-month low of $300.50 and a 12-month high of $813.70. The business’s fifty day simple moving average is $388.38 and its 200-day simple moving average is $495.29. The company has a market capitalization of $88.12 billion, a PE ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 0.98. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the previous year, the firm earned $11.65 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, equities research analysts predict that Intuit Inc. will post 17.6 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be given a $1.20 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. Intuit’s payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent analyst reports. Freedom Capital downgraded Intuit from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. BNP Paribas Exane reduced their price target on shares of Intuit from $463.00 to $315.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Evercore reduced their price target on shares of Intuit from $540.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Barclays reduced their price target on shares of Intuit from $540.00 to $443.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Finally, Truist Financial reduced their price target on shares of Intuit from $500.00 to $410.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Twenty-four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $514.58.

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.