E Fund Management Co. Ltd. Takes $4.46 Million Position in Intuit Inc. $INTU

E Fund Management Co. Ltd. bought a new position in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, Holdings Channel reports. The firm bought 17,109 shares of the software maker’s stock, valued at approximately $4,465,000.

Other large investors have also bought and sold shares of the company. Rakuten Investment Management Inc. raised its stake in shares of Intuit by 522.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock worth $34,852,000 after acquiring an additional 43,389 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Intuit by 20.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock valued at $1,848,954,000 after purchasing an additional 471,451 shares during the last quarter. Vestcor Inc increased its holdings in shares of 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 purchasing an additional 9,148 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of 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 purchasing an additional 47,148 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in Intuit by 13.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker’s stock worth $39,728,000 after purchasing an additional 6,999 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on INTU shares. The Goldman Sachs Group downgraded Intuit from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $519.00 to $276.00 in a report on Tuesday, June 2nd. Oppenheimer lowered their target price on Intuit from $558.00 to $406.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Piper Sandler reaffirmed an “underweight” rating and set a $250.00 price target on shares of Intuit in a research note on Wednesday. Evercore reiterated an “outperform” rating on shares of Intuit in a report on Tuesday. Finally, Argus lowered their price objective on Intuit from $580.00 to $480.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Twenty investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $451.26.

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 Price Performance

Shares of INTU stock opened at $362.47 on Thursday. The firm’s 50 day moving average price is $295.58 and its two-hundred day moving average price is $360.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $705.10. The stock has a market cap of $99.15 billion, a PE ratio of 21.95, a PEG ratio of 1.11 and a beta of 0.97.

Intuit (NASDAQ:INTU) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, beating the consensus estimate of $12.57 by $0.23. The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.65 EPS. As a group, analysts forecast that Intuit Inc. will post 18.18 EPS for the current year.

Insider Buying and Selling at Intuit

In related news, Director Vasant M. Prabhu acquired 1,250 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $309.45 per share, with a total value of $386,812.50. Following the completion of the purchase, the director directly owned 1,250 shares in the company, valued at approximately $386,812.50. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $94,592.68. Following the completion of 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 position. The SEC filing for this sale provides additional information. 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 over the last 90 days. 2.49% of the stock is owned by corporate insiders.

Intuit Company 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.