Truist Financial Reiterates “Hold” Rating for Intuit (NASDAQ:INTU)

Intuit (NASDAQ:INTU)‘s stock had its “hold” rating restated by equities researchers at Truist Financial in a note issued to investors on Friday, September 18th, Benzinga reports. They currently have a $300.00 target price on the software maker’s stock. Truist Financial’s price objective points to a potential upside of 8.78% from the stock’s current price.

Several other research firms have also commented on INTU. Weiss Ratings restated a “sell (d+)” rating on shares of Intuit in a research report on Tuesday, September 8th. Morgan Stanley dropped their price target on shares of Intuit from $335.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 26th. TD Cowen restated a “hold” rating and set a $346.00 price target on shares of Intuit in a research report on Friday, September 18th. Oppenheimer dropped their price target on shares of Intuit from $406.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 26th. Finally, Argus decreased their price objective on shares of Intuit from $580.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Sixteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $431.55.

Intuit Stock Performance

INTU stock traded down $1.34 during midday trading on Friday, hitting $275.79. 3,397,804 shares of the stock traded hands, compared to its average volume of 4,314,089. The firm has a market cap of $73.70 billion, a P/E ratio of 16.71, a PEG ratio of 0.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s fifty day simple moving average is $325.48 and its 200-day simple moving average is $344.35. Intuit has a 1-year low of $252.84 and a 1-year high of $703.96.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, beating the consensus estimate of $3.58 by $0.45. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business earned $2.75 earnings per share. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. On average, analysts expect that Intuit will post 23.01 earnings per share for the current year.

Insider Transactions at Intuit

In related news, Director Richard L. Dalzell sold 285 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total transaction of $92,727.60. Following the completion of the sale, the director directly owned 11,531 shares in the company, valued at approximately $3,751,726.16. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the sale, the chief accounting officer owned 1,628 shares of the company’s stock, valued at approximately $564,167.12. The trade was a 35.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rakuten Investment Management Inc. increased its position in Intuit by 522.3% during the fourth quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock worth $34,852,000 after purchasing an additional 43,389 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $1,848,954,000 after purchasing an additional 471,451 shares during the last quarter. Vestcor Inc increased its position in Intuit by 79.1% during the fourth quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock worth $13,723,000 after purchasing an additional 9,148 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Intuit by 119.5% during the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock worth $37,452,000 after purchasing an additional 47,148 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in Intuit during the second quarter worth about $1,643,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

Intuit Inc is a financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, tax obligations and customer relationships. The company is headquartered in Mountain View, California, and serves customers primarily in the United States and Canada, with additional international availability for certain products.

Its principal offerings include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, invoicing, payroll and payments tools for small businesses and self-employed individuals; Credit Karma, a personal finance platform offering credit monitoring and related financial products; and Mailchimp, an email marketing and customer engagement service for businesses.

Intuit was founded in 1983 by Scott Cook and Tom Proulx.