Precedent Wealth Partners LLC Has $1.47 Million Position in Intuit Inc. $INTU

Precedent Wealth Partners LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 25.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,859 shares of the software maker’s stock after acquiring an additional 373 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Intuit were worth $1,465,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker’s stock valued at $16,780,536,000 after acquiring an additional 294,993 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker’s stock valued at $5,537,435,000 after acquiring an additional 649,212 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intuit by 6.8% in the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker’s stock valued at $3,472,266,000 after acquiring an additional 358,328 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker’s stock valued at $2,114,950,000 after acquiring an additional 252,265 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock valued at $1,890,282,000 after acquiring an additional 36,513 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Intuit from $820.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th. Zacks Research cut shares of Intuit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $850.00 price objective on shares of Intuit in a research report on Tuesday, September 2nd. UBS Group cut their price objective on shares of Intuit from $750.00 to $725.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intuit in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $791.82.

Insider Buying and Selling at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the transaction, the director owned 15,474 shares in the company, valued at $11,890,685.82. This trade represents a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 42 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $664.99, for a total transaction of $27,929.58. Following the completion of the transaction, the chief financial officer owned 831 shares of the company’s stock, valued at approximately $552,606.69. This trade represents a 4.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,785 shares of company stock worth $2,029,299 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.3%

INTU stock opened at $679.94 on Friday. The stock has a market capitalization of $189.57 billion, a P/E ratio of 49.49, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The firm has a 50-day moving average price of $700.95 and a 200-day moving average price of $691.50.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.99 earnings per share. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Thursday, October 9th will be issued a $1.20 dividend. This is a boost from Intuit’s previous quarterly dividend of $1.04. The ex-dividend date is Thursday, October 9th. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. Intuit’s dividend payout ratio (DPR) is 30.28%.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.