Arax Advisory Partners Sells 12,117 Shares of Intuit Inc. $INTU

Key Points

• Arax Advisory Partners cut its Intuit stake by 78.3% in the fourth quarter, selling 12,117 shares and leaving it with 3,367 shares valued at about $2.23 million.
• Analyst sentiment on Intuit remains mixed but generally positive, with 24 Buy, 6 Hold, and 2 Sell ratings and a consensus target price of $514.58.
• Intuit reported strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $1.20 per share payable on July 17.

Arax Advisory Partners reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 78.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,367 shares of the software maker's stock after selling 12,117 shares during the period. Arax Advisory Partners' holdings in Intuit were worth $2,230,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC raised its position in Intuit by 8.6% in the 3rd quarter. GW&K Investment Management LLC now owns 202 shares of the software maker's stock worth $138,000 after purchasing an additional 16 shares during the period. Cannell & Spears LLC raised its position in Intuit by 0.4% in the 3rd quarter. Cannell & Spears LLC now owns 3,868 shares of the software maker's stock worth $2,641,000 after purchasing an additional 16 shares during the period. Betterment LLC raised its position in Intuit by 2.1% in the 3rd quarter. Betterment LLC now owns 779 shares of the software maker's stock worth $532,000 after purchasing an additional 16 shares during the period. Crawford Investment Counsel Inc. raised its position in Intuit by 4.7% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 377 shares of the software maker's stock worth $257,000 after purchasing an additional 17 shares during the period. Finally, Value Partners Investments Inc. raised its position in Intuit by 0.4% in the 4th quarter. Value Partners Investments Inc. now owns 3,963 shares of the software maker's stock worth $2,629,000 after purchasing an additional 17 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INTU. Guggenheim set a $633.00 target price on shares of Intuit in a research report on Monday, March 16th. The Goldman Sachs Group cut shares of Intuit from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $519.00 to $276.00 in a research report on Tuesday, June 2nd. Daiwa Securities Group decreased their price objective on shares of Intuit from $640.00 to $500.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Wall Street Zen cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Freedom Capital cut shares of Intuit from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Twenty-four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $514.58.

Insider Activity at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the transaction, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 dated Friday, May 22nd. The stock was purchased at an average price of $309.45 per share, for a total transaction of $386,812.50. Following the purchase, 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. Corporate insiders own 2.49% of the company's stock.

Intuit Trading Up 1.8%

NASDAQ:INTU opened at $281.77 on Tuesday. Intuit Inc. has a one year low of $268.01 and a one year high of $813.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The company's 50-day simple moving average is $360.78 and its 200 day simple moving average is $470.16. The firm has a market capitalization of $77.08 billion, a P/E ratio of 17.07, a PEG ratio of 1.01 and a beta of 0.98.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the firm posted $11.65 earnings per share. Intuit's quarterly revenue was up 10.4% on a year-over-year basis. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, analysts forecast that Intuit Inc. will post 18.18 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, July 9th. Intuit's dividend payout ratio is currently 29.07%.

Intuit 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.

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