3,654 Shares in Intuit Inc. $INTU Bought by Aljian Capital Management LLC

Key Points

• Aljian Capital Management acquired 3,654 Intuit shares in the second quarter, worth approximately $954,000. Institutional investors and hedge funds collectively own 83.66% of Intuit’s outstanding stock.
• Analyst sentiment remains broadly positive, with 20 Buy, nine Hold, and three Sell ratings; MarketBeat’s consensus is “Moderate Buy” with an average price target of $454.65, despite several firms recently lowering their targets.
• Intuit’s latest quarterly results exceeded expectations, with EPS of $12.80 versus $12.57 expected and revenue of $8.56 billion, up 10.4% year over year. The stock opened at $350.41, while insider activity included a director’s 1,250-share purchase and another director’s 338-share sale.

Aljian Capital Management LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,654 shares of the software maker's stock, valued at approximately $954,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Joseph Group Capital Management bought a new position in Intuit during the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $25,000. MidFirst Bank bought a new position in Intuit during the 2nd quarter worth approximately $28,000. HHM Wealth Advisors LLC boosted its stake in Intuit by 75.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock worth $30,000 after acquiring an additional 30 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in Intuit in the first quarter worth $30,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. TD Cowen reissued a "buy" rating on shares of Intuit in a report on Tuesday. Daiwa Securities Group dropped their price target on Intuit from $640.00 to $500.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Wells Fargo & Company cut their price objective on Intuit from $425.00 to $360.00 and set an "equal weight" rating on the stock in a report on Thursday, May 21st. Weiss Ratings lowered Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 11th. Finally, Jefferies Financial Group lowered their target price on Intuit from $650.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Twenty analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $454.65.

Intuit Stock Up 4.4%

NASDAQ:INTU opened at $350.41 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $95.85 billion, a PE ratio of 21.22, a PEG ratio of 1.09 and a beta of 0.97. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $719.10. The stock has a 50-day simple moving average of $294.02 and a 200 day simple moving average of $361.87.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, beating the consensus estimate of $12.57 by $0.23. The firm had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $11.65 EPS. On average, sell-side analysts expect that Intuit Inc. will post 18.18 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the sale, the director directly owned 12,326 shares of the company's stock, valued at $3,449,554.36. The trade was a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 1,250 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $309.45 per share, for a total transaction of $386,812.50. Following the acquisition, the director directly owned 1,250 shares of the company's stock, valued at $386,812.50. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 1,239 shares of company stock valued at $348,354 in the last 90 days. 2.49% of the stock is currently owned by corporate insiders.

Intuit News Summary

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Software-sector rotation supported INTU. A sharp selloff in AI hardware stocks redirected capital toward enterprise software companies, including Intuit, Monday.com and HubSpot. Investors may be reassessing the durability and valuation of software businesses after their recent weakness, although the article cautions that the move could be a short-term trading rotation. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Growth and AI initiatives remain part of the bullish case. Coverage highlighted Intuit’s expansion of AI-native enterprise resource planning tools and the launch of Intuit Intelligence. Analysts and financial commentary also point to growth in advanced products, a potentially large mid-market opportunity and expectations for earnings growth. Intuit’s latest reported quarter included revenue growth of 10.4% year over year and an EPS beat.
• Positive Sentiment: Mizuho retained a favorable view despite reducing its target. Mizuho lowered its price target from $500 to $430 but maintained an “outperform” rating, signaling that the firm still sees meaningful upside after becoming more conservative on valuation or growth assumptions.

Intuit Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source