Ieq Capital LLC Buys Shares of 39,173 Intuit Inc. $INTU

Ieq Capital LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, HoldingsChannel reports. The firm purchased 39,173 shares of the software maker’s stock, valued at approximately $10,224,000.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Joseph Group Capital Management acquired a new stake in shares of Intuit in the 4th quarter valued at $25,000. Intesa Sanpaolo Wealth Management acquired a new position in Intuit during the fourth quarter worth $25,000. MidFirst Bank bought a new position in Intuit during the second quarter valued at about $28,000. HHM Wealth Advisors LLC raised its holdings in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock valued at $30,000 after buying an additional 30 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Intuit in the first quarter worth about $30,000. Institutional investors own 83.66% of the company’s stock.

Trending Headlines about Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Intuit Stock Up 1.4%

Shares of INTU stock opened at $367.00 on Friday. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $705.08. 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 cap of $100.39 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. The stock has a 50 day moving average of $299.09 and a 200-day moving average of $359.96.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter last year, the company posted $11.65 earnings per share. Intuit’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts predict that Intuit Inc. will post 18.19 EPS for the current year.

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the transaction, the director owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of Intuit stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director owned 1,750 shares of the company’s stock, valued at $541,992.50. This trade represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 1,239 shares of company stock valued at $348,354. Corporate insiders own 2.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on INTU shares. Northcoast Research decreased their price target on Intuit from $575.00 to $465.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. KeyCorp cut their price objective on Intuit from $520.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Weiss Ratings lowered Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Intuit from $530.00 to $425.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets lowered their price target on Intuit from $550.00 to $412.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $451.26.

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.