2,903 Intuit Inc. $INTU Shares Bought by Westside Investment Management Inc.

Key Points

• Westside Investment Management increased its Intuit stake by 57.1%, buying 2,903 shares in the third quarter and bringing its holdings to 7,989 shares, valued at about $2.2 million.
• Other institutional investors also added shares; hedge funds and institutions collectively own 83.66% of Intuit.
• Intuit beat quarterly earnings and revenue estimates, with revenue up 13.7% year over year. Analysts’ consensus rating was “Hold,” with an average price target of $431.55, and the company raised its quarterly dividend from $1.20 to $1.38 per share.

Westside Investment Management Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 57.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,989 shares of the software maker's stock after purchasing an additional 2,903 shares during the quarter. Westside Investment Management Inc.'s holdings in Intuit were worth $2,203,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of INTU. Monte Financial Group LLC increased its position in Intuit by 27.6% during the third quarter. Monte Financial Group LLC now owns 20,379 shares of the software maker's stock worth $5,619,000 after buying an additional 4,403 shares during the last quarter. Kestra Advisory Services LLC lifted its position in shares of Intuit by 23.3% in the third quarter. Kestra Advisory Services LLC now owns 11,463 shares of the software maker's stock worth $3,160,000 after buying an additional 2,166 shares during the last quarter. Inscription Capital LLC lifted its position in shares of Intuit by 12.9% in the third quarter. Inscription Capital LLC now owns 2,959 shares of the software maker's stock worth $816,000 after buying an additional 339 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Intuit by 35.5% in the third quarter. Commonwealth Equity Services LLC now owns 37,378 shares of the software maker's stock worth $10,306,000 after buying an additional 9,798 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of Intuit by 3.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,261 shares of the software maker's stock worth $4,554,000 after acquiring an additional 464 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Ratings Changes

INTU has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Intuit from $250.00 to $290.00 and gave the company an "underweight" rating in a report on Wednesday, August 26th. Stifel Nicolaus restated a "hold" rating and issued a $300.00 target price on shares of Intuit in a report on Friday, September 18th. Morgan Stanley decreased their target price on Intuit from $335.00 to $315.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 26th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $385.00 target price on shares of Intuit in a research report on Friday, October 2nd. Finally, TD Cowen reiterated a "hold" rating and set a $346.00 price target on shares of Intuit in a report on Friday, September 18th. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $431.55.

Insider Buying and Selling

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

Intuit Stock Down 0.5%

Intuit stock opened at $354.84 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $682.27. The firm has a fifty day moving average price of $318.74 and a two-hundred day moving average price of $358.07. The firm has a market cap of $94.83 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 1.18 and a beta of 0.91.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share (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 the consensus estimate of $4.27 billion. Intuit had a return on equity of 25.97% and a net margin of 21.29%. The firm's revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $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. As a group, analysts forecast that Intuit Inc. will post 23.02 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, October 8th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, October 8th. This is a positive change from Intuit's previous quarterly dividend of $1.20. Intuit's dividend payout ratio is currently 33.45%.

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.

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