Danske Bank A S Acquires New Stake in Intuit Inc. $INTU

Danske Bank A S acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 232,184 shares of the software maker’s stock, valued at approximately $60,600,000. Danske Bank A S owned approximately 0.08% of Intuit as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Betterment LLC grew its holdings in shares of Intuit by 2.1% during the 3rd quarter. Betterment LLC now owns 779 shares of the software maker’s stock worth $532,000 after purchasing an additional 16 shares during the period. One Capital Management LLC raised its holdings in Intuit by 2.7% in the 3rd quarter. One Capital Management LLC now owns 681 shares of the software maker’s stock valued at $465,000 after buying an additional 18 shares during the period. Quadcap Wealth Management LLC raised its position in Intuit by 1.0% in the third quarter. Quadcap Wealth Management LLC now owns 1,801 shares of the software maker’s stock valued at $1,230,000 after purchasing an additional 18 shares during the period. United Asset Strategies Inc. raised its position in Intuit by 1.0% in the fourth quarter. United Asset Strategies Inc. now owns 2,036 shares of the software maker’s stock valued at $1,349,000 after purchasing an additional 20 shares during the period. Finally, Sage Private Wealth Group LLC lifted its stake in Intuit by 2.8% during the fourth quarter. Sage Private Wealth Group LLC now owns 802 shares of the software maker’s stock worth $531,000 after purchasing an additional 22 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total transaction of $74,498.88. Following the completion of the transaction, the director owned 11,758 shares in the company, valued at approximately $3,084,358.56. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the acquisition, the director owned 1,750 shares in the company, valued at $541,992.50. The trade was a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 1,239 shares of company stock worth $348,354. Company insiders own 2.49% of the company’s stock.

Intuit News Summary

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Software-sector rotation supported INTU. A sharp selloff in AI hardware stocks redirected capital toward enterprise software companies, including Intuit, Monday.com and HubSpot. Investors may be reassessing the durability and valuation of software businesses after their recent weakness, although the article cautions that the move could be a short-term trading rotation. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Growth and AI initiatives remain part of the bullish case. Coverage highlighted Intuit’s expansion of AI-native enterprise resource planning tools and the launch of Intuit Intelligence. Analysts and financial commentary also point to growth in advanced products, a potentially large mid-market opportunity and expectations for earnings growth. Intuit’s latest reported quarter included revenue growth of 10.4% year over year and an EPS beat.
• Positive Sentiment: Mizuho retained a favorable view despite reducing its target. Mizuho lowered its price target from $500 to $430 but maintained an “outperform” rating, signaling that the firm still sees meaningful upside after becoming more conservative on valuation or growth assumptions.

Intuit Trading Up 4.4%

NASDAQ INTU opened at $350.41 on Wednesday. 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 $95.85 billion, a PE ratio of 21.22, a P/E/G ratio of 1.09 and a beta of 0.97. Intuit Inc. has a one year low of $252.84 and a one year high of $719.10. The firm’s fifty day moving average is $294.02 and its two-hundred day moving average is $361.87.

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.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Jefferies Financial Group cut their price target on shares of Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. TD Cowen reiterated a “buy” rating on shares of Intuit in a report on Tuesday. BMO Capital Markets lowered their target price on Intuit from $550.00 to $412.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. BNP Paribas Exane cut their price target on Intuit from $463.00 to $315.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. Finally, Weiss Ratings cut shares of Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Twenty investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $454.65.

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.