Kentucky Farm Bureau Mutual Insurance Co Invests $1.04 Million in Intuit Inc. $INTU

Kentucky Farm Bureau Mutual Insurance Co acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,000 shares of the software maker’s stock, valued at approximately $1,044,000.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Rakuten Investment Management Inc. grew its stake in shares of Intuit by 522.3% during the 4th quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock valued at $34,852,000 after buying an additional 43,389 shares during the period. Bank of New York Mellon Corp raised its position in shares of Intuit by 20.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock worth $1,848,954,000 after buying an additional 471,451 shares during the period. Vestcor Inc boosted its holdings in Intuit by 79.1% in the fourth quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock valued at $13,723,000 after acquiring an additional 9,148 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Intuit by 119.5% in the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock valued at $37,452,000 after acquiring an additional 47,148 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Intuit by 13.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker’s stock valued at $39,728,000 after acquiring an additional 6,999 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 3.4%

INTU opened at $362.47 on Thursday. The firm’s 50 day moving average is $295.58 and its 200-day moving average is $360.88. Intuit Inc. has a 52-week low of $252.84 and a 52-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 has a market capitalization of $99.15 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.11 and a beta of 0.97.

Intuit (NASDAQ:INTU) last announced its 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 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 business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.65 earnings per share. Analysts expect that Intuit Inc. will post 18.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vasant M. Prabhu acquired 1,250 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $309.45 per share, with a total value of $386,812.50. Following the transaction, the director directly owned 1,250 shares in the company, valued at approximately $386,812.50. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard L. Dalzell sold 338 shares of the firm’s 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 sale, the director owned 12,326 shares of the company’s stock, valued at $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,239 shares of company stock worth $348,354 in the last quarter. 2.49% of the stock is currently owned by company insiders.

Key Headlines Impacting Intuit

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

Analyst Upgrades and Downgrades

Several brokerages have commented on INTU. Wolfe Research restated an “outperform” rating and set a $400.00 price target on shares of Intuit in a research note on Thursday, May 21st. Piper Sandler reaffirmed an “underweight” rating and issued a $250.00 price objective on shares of Intuit in a research note on Wednesday. Bank of America started coverage on Intuit in a report on Wednesday, May 27th. They set a “buy” rating and a $400.00 target price for the company. KeyCorp dropped their target price on shares of Intuit from $520.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Finally, HSBC cut their price target on shares of Intuit from $897.00 to $707.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Twenty equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $451.26.

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.