257,393 Shares in Intuit Inc. $INTU Purchased by GCQ FUNDS MANAGEMENT PTY Ltd

GCQ FUNDS MANAGEMENT PTY Ltd acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 257,393 shares of the software maker's stock, valued at approximately $67,180,000. Intuit comprises about 9.3% of GCQ FUNDS MANAGEMENT PTY Ltd's portfolio, making the stock its 4th biggest position. GCQ FUNDS MANAGEMENT PTY Ltd owned about 0.09% of Intuit as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of INTU. Joseph Group Capital Management purchased a new stake in Intuit during the 4th quarter valued at $25,000. Intesa Sanpaolo Wealth Management purchased a new position in Intuit during the fourth quarter worth $25,000. Pin Oak Investment Advisors Inc. purchased a new position in Intuit during the third quarter worth $33,000. Birchwood Financial Partners Inc. bought a new position in Intuit during the fourth quarter valued at $33,000. Finally, Sankala Group LLC bought a new position in Intuit during the fourth quarter valued at $40,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Up 1.4%

NASDAQ:INTU opened at $367.00 on Friday. Intuit Inc. has a twelve month low of $252.84 and a twelve month high of $705.08. The company has a market cap of $100.39 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. The stock has a fifty day simple moving average of $299.09 and a 200-day simple moving average of $359.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.57 by $0.23. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business's revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $11.65 earnings per share. Analysts anticipate that Intuit Inc. will post 18.19 EPS for the current year.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of Intuit from $500.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, August 17th. Wolfe Research reiterated an "outperform" rating and set a $400.00 price target on shares of Intuit in a report on Thursday, May 21st. Rothschild & Co Redburn reduced their price objective on shares of Intuit from $700.00 to $600.00 and set a "buy" rating on the stock in a research report on Tuesday, June 2nd. Jefferies Financial Group decreased their price objective on shares of Intuit from $650.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Finally, BMO Capital Markets dropped their target price on Intuit from $550.00 to $412.00 and set an "outperform" rating for the company in a research report on Thursday, May 21st. Twenty research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $451.26.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 284 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the sale, the director directly owned 11,758 shares of the company's stock, valued at $3,084,358.56. The trade was a 2.36% decrease in their position. 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, Director Vasant M. Prabhu bought 500 shares of Intuit stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $309.71 per share, for a total transaction of $154,855.00. Following the completion of the transaction, the director owned 1,750 shares of the company's stock, valued at approximately $541,992.50. This trade represents a 40.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 1,239 shares of company stock valued at $348,354 in the last quarter. 2.49% of the stock is currently owned by company insiders.

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.

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