Intuit Inc. $INTU Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 72,825 shares of the software maker’s stock after purchasing an additional 6,429 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Intuit were worth $19,519,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. XXEC Inc. purchased a new stake in Intuit in the 2nd quarter worth approximately $436,740,000. BlackRock Inc. bought a new position in Intuit during the second quarter valued at about $6,851,859,000. Corient Private Wealth LP acquired a new position in Intuit in the second quarter worth about $40,545,000. Bank of America Corp DE acquired a new stake in shares of Intuit during the second quarter worth approximately $589,841,000. Finally, Bank of New York Mellon Corp acquired a new position in Intuit during the 2nd quarter worth $564,592,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Intuit Stock Performance

Shares of INTU stock opened at $356.64 on Thursday. The business’s fifty day simple moving average is $318.56 and its 200-day simple moving average is $359.02. The company has a market cap of $95.31 billion, a PE ratio of 21.61, a PEG ratio of 1.14 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.34. Intuit Inc. has a 12-month low of $252.84 and a 12-month high of $682.27.

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. Analysts expect that Intuit Inc. will post 23.02 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, October 8th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.5%. This is a positive change from Intuit’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Thursday, October 8th. Intuit’s dividend payout ratio is 33.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on INTU shares. Wolfe Research downgraded shares of Intuit from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 26th. BMO Capital Markets reissued an “outperform” rating on shares of Intuit in a report on Monday, September 21st. Jefferies Financial Group cut their target price on Intuit from $550.00 to $500.00 and set a “buy” rating on the stock in a research report on Sunday, August 23rd. Barclays reduced their price objective on shares of Intuit from $443.00 to $408.00 and set an “overweight” rating for the company in a report on Wednesday, August 26th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $385.00 target price on shares of Intuit in a research note on Friday, October 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Hold” and an average target price of $431.55.

About Intuit

Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.

The company’s principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.