United Bank Buys Shares of 1,675 Intuit Inc. $INTU

United Bank purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,675 shares of the software maker’s stock, valued at approximately $437,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Betterment LLC increased its position in shares of Intuit by 2.1% during the third quarter. Betterment LLC now owns 779 shares of the software maker’s stock valued at $532,000 after acquiring an additional 16 shares during the last quarter. One Capital Management LLC lifted its holdings in shares of Intuit by 2.7% in the 3rd quarter. One Capital Management LLC now owns 681 shares of the software maker’s stock worth $465,000 after acquiring an additional 18 shares during the last quarter. Quadcap Wealth Management LLC boosted its position in shares of Intuit by 1.0% during the 3rd quarter. Quadcap Wealth Management LLC now owns 1,801 shares of the software maker’s stock worth $1,230,000 after purchasing an additional 18 shares during the period. United Asset Strategies Inc. boosted its position in shares of Intuit by 1.0% during the 4th quarter. United Asset Strategies Inc. now owns 2,036 shares of the software maker’s stock worth $1,349,000 after purchasing an additional 20 shares during the period. Finally, Sage Private Wealth Group LLC increased its holdings in Intuit by 2.8% in the 4th quarter. Sage Private Wealth Group LLC now owns 802 shares of the software maker’s stock valued at $531,000 after purchasing an additional 22 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of Intuit stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of the transaction, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu acquired 1,250 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $309.45 per share, with a total value of $386,812.50. Following the completion of the transaction, the director owned 1,250 shares of the company’s stock, valued at approximately $386,812.50. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 1,239 shares of company stock valued at $348,354 over the last three months. 2.49% of the stock is currently owned by insiders.

Key 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 Stock Performance

Shares of INTU stock opened at $362.47 on Thursday. The firm has a 50 day moving average of $295.58 and a two-hundred day moving average of $360.88. The stock has a market capitalization of $99.15 billion, a PE ratio of 21.95, a P/E/G 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 52 week low of $252.84 and a 52 week high of $705.10.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INTU. TD Cowen reissued a “buy” rating on shares of Intuit in a research report on Tuesday. Truist Financial restated a “hold” rating and set a $350.00 price target (down from $410.00) on shares of Intuit in a research report on Monday, August 3rd. BNP Paribas Exane dropped their price objective on Intuit from $463.00 to $315.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Stifel Nicolaus reissued a “hold” rating and set a $275.00 target price (down from $375.00) on shares of Intuit in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group cut Intuit from a “neutral” rating to a “sell” rating and lowered their target price for the company from $519.00 to $276.00 in a report on Tuesday, June 2nd. Twenty equities 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $451.26.

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.