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

E Fund Management Co. Ltd. bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,109 shares of the software maker’s stock, valued at approximately $4,465,000.

Several other large investors have also recently bought and sold shares of the stock. Asahi Life Asset Management CO. LTD. bought a new stake in Intuit in the 2nd quarter valued at $413,000. Aurora Investment Counsel bought a new position in shares of Intuit during the 2nd quarter worth about $1,961,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Intuit during the 2nd quarter worth about $1,090,000. United Bank acquired a new position in shares of Intuit during the second quarter valued at about $437,000. Finally, CM Wealth Advisors LLC acquired a new position in shares of Intuit during the second quarter valued at about $298,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTU. Royal Bank Of Canada decreased their target price on Intuit from $600.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. Wolfe Research reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Intuit in a report on Thursday, May 21st. Jefferies Financial Group reduced their price objective on Intuit from $650.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Citigroup decreased their price objective on Intuit from $591.00 to $457.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Barclays lowered their price objective on Intuit from $540.00 to $443.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Twenty research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $451.26.

Insider Buying and Selling at Intuit

In other Intuit news, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total transaction of $74,498.88. Following the completion of the transaction, the director directly owned 11,758 shares of the company’s stock, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Intuit stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the purchase, the director directly owned 1,750 shares in the company, valued at $541,992.50. This represents a 40.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 1,239 shares of company stock worth $348,354. 2.49% of the stock is owned by insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $362.47 on Thursday. The firm has a market capitalization of $99.15 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. Intuit Inc. has a 12-month low of $252.84 and a 12-month high of $705.10. The firm has a 50-day moving average price of $295.58 and a 200 day moving average price of $360.88.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, beating the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period in the prior year, the company posted $11.65 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

Trending Headlines about Intuit

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

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.