1,675 Shares in Intuit Inc. $INTU Bought by United Bank

United Bank bought a new stake in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,675 shares of the software maker’s stock, valued at approximately $437,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INTU. Joseph Group Capital Management acquired a new position in shares of Intuit during the 4th quarter worth about $25,000. Intesa Sanpaolo Wealth Management purchased a new position in shares of Intuit in the 4th quarter valued at about $25,000. MidFirst Bank acquired a new stake in shares of Intuit during the 2nd quarter worth about $28,000. HHM Wealth Advisors LLC lifted its stake in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after purchasing an additional 30 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Intuit during the first quarter worth approximately $30,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Daiwa Securities Group dropped their price target on shares of Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial restated a “hold” rating and issued a $350.00 target price (down from $410.00) on shares of Intuit in a report on Monday, August 3rd. Argus dropped their target price on shares of Intuit from $580.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Finally, TD Cowen reiterated a “buy” rating on shares of Intuit in a research note on Tuesday. Twenty equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $451.26.

Intuit Trading Up 3.4%

NASDAQ INTU opened at $362.47 on Thursday. The firm’s fifty day moving average is $295.58 and its two-hundred day moving average is $360.88. Intuit Inc. has a one year low of $252.84 and a one year high of $705.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $99.15 billion, a PE 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, 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 during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the prior year, the firm earned $11.65 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 18.18 earnings per share for the current year.

Insider Activity at Intuit

In other news, Director Richard L. Dalzell sold 284 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total value of $74,498.88. Following the transaction, the director owned 11,758 shares of the company’s stock, valued at approximately $3,084,358.56. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director directly owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. The trade was a 40.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by company insiders.

More 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

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.