Canal Capital Management LLC Has $5.51 Million Position in Intuit Inc. $INTU

Canal Capital Management LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 24.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 12,745 shares of the software maker’s stock after buying an additional 2,513 shares during the period. Canal Capital Management LLC’s holdings in Intuit were worth $5,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Joseph Group Capital Management acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management acquired a new position in shares of Intuit during the 4th quarter valued at $25,000. HHM Wealth Advisors LLC boosted 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 acquiring an additional 30 shares in the last quarter. CrossGen Wealth LLC acquired a new position in shares of Intuit during the first quarter valued at about $32,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in Intuit in the 3rd quarter valued at about $33,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of NASDAQ INTU opened at $275.35 on Friday. The firm has a market capitalization of $75.32 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.01 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $325.83 and its two-hundred day simple moving average is $433.75. Intuit Inc. has a twelve month low of $252.84 and a twelve month high of $813.70.

Intuit (NASDAQ:INTU) last announced its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.54 billion. During the same period last year, the firm posted $11.65 earnings per share. Intuit’s quarterly revenue was up 10.4% on a year-over-year basis. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 18.19 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, July 9th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $4.80 annualized dividend and a yield of 1.7%. Intuit’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INTU. Evercore dropped their price target on Intuit from $540.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Barclays reduced their price target on shares of Intuit from $540.00 to $443.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Wolfe Research restated an “outperform” rating and set a $400.00 price objective on shares of Intuit in a report on Thursday, May 21st. Guggenheim set a $633.00 price objective on shares of Intuit in a research note on Monday, March 16th. Finally, Freedom Capital downgraded shares of Intuit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Twenty-two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $498.40.

Insider Transactions at Intuit

In other news, Director Vasant M. Prabhu acquired 1,250 shares of Intuit stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $309.45 per share, for a total transaction of $386,812.50. Following the transaction, the director owned 1,250 shares of the company’s stock, valued at $386,812.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard L. Dalzell sold 338 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the sale, the director directly owned 12,326 shares of the company’s stock, valued at $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,239 shares of company stock valued at $348,354 over the last quarter. Company insiders own 2.49% of the company’s stock.

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.