Assenagon Asset Management S.A. Sells 222,718 Shares of Intuit Inc. $INTU

Key Points

• Assenagon Asset Management cut its Intuit stake sharply in Q1, selling 222,718 shares and reducing its holdings by 82.2% to 48,122 shares worth about $20.8 million.
• Intuit recently reported better-than-expected quarterly results, with EPS of $12.80 on revenue of $8.56 billion, and it raised guidance for Q4 2026 and FY 2026.
• Sentiment is mixed: the company pays a quarterly dividend of $1.20 per share, but analysts have been trimming price targets and some reports point to legal scrutiny, outages, and concerns about growth.

Assenagon Asset Management S.A. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 82.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,122 shares of the software maker's stock after selling 222,718 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Intuit were worth $20,807,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. GW&K Investment Management LLC grew its position in Intuit by 8.6% in the third quarter. GW&K Investment Management LLC now owns 202 shares of the software maker's stock worth $138,000 after acquiring an additional 16 shares in the last quarter. Cannell & Spears LLC increased its position in Intuit by 0.4% during the 3rd quarter. Cannell & Spears LLC now owns 3,868 shares of the software maker's stock valued at $2,641,000 after buying an additional 16 shares in the last quarter. Betterment LLC raised its position in shares of 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 last quarter. Crawford Investment Counsel Inc. lifted its stake in shares of Intuit by 4.7% in the third quarter. Crawford Investment Counsel Inc. now owns 377 shares of the software maker's stock worth $257,000 after buying an additional 17 shares in the last quarter. Finally, Value Partners Investments Inc. boosted its stake in shares of 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 buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

INTU opened at $267.15 on Friday. The firm's fifty day simple moving average is $338.90 and its two-hundred day simple moving average is $447.57. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $813.70. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market cap of $73.08 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.93 and a beta of 0.98.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. The company had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $11.65 EPS. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Equities analysts anticipate that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, July 9th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 9th. Intuit's payout ratio is currently 29.07%.

Insider Activity

In other news, Director Vasant M. Prabhu acquired 1,250 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $309.45 per share, with a total value of $386,812.50. Following the transaction, the director owned 1,250 shares in the company, valued at approximately $386,812.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 338 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the transaction, the director directly owned 12,326 shares of the company's stock, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,239 shares of company stock valued at $348,354 in the last quarter. Company insiders own 2.49% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research reports. Wall Street Zen downgraded Intuit from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Wolfe Research reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Intuit in a research report on Thursday, May 21st. Susquehanna dropped their price objective on shares of Intuit from $640.00 to $550.00 and set a "positive" rating on the stock in a research note on Friday, May 22nd. Weiss Ratings lowered shares of Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 11th. Finally, Freedom Capital downgraded shares of Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Twenty-two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $498.40.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: INTU is benefiting from dip-buying after its steep decline, with investors stepping in near 52-week lows and supporting a bounce in the name.
• Positive Sentiment: Lower Treasury yields have boosted interest in software and other growth stocks, improving the backdrop for Intuit.
• Positive Sentiment: Intuit is set to highlight its rebuilt AI infrastructure at VB Transform 2026, reinforcing the company’s investment in scalable AI capabilities that could support future product growth. Intuit will show off how it rebuilt its AI infrastructure to support fast and complex tasks at VB Transform 2026
• Neutral Sentiment: Recent insider selling by Director Richard Dalzell was done under a pre-arranged trading plan, so it is not a strong signal by itself, but it can add to cautious sentiment when shares are already under pressure. Intuit director stock sale
• Negative Sentiment: Investor concerns increased after reports of pricing issues and a large stock drop led to a securities-fraud investigation notice, which could keep legal and reputational pressure on the stock. INTU Fraud Alert: Intuit Securities Fraud Investigation on behalf of Investors after Stock Drops 20% is Ongoing
• Negative Sentiment: Another law firm is also investigating claims on behalf of investors, adding to the legal overhang. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Intuit, Inc. - INTU
• Negative Sentiment: Analysts have been cutting price targets and at least one major firm downgraded the stock, with concerns that management may lower near- to medium-term growth guidance.
• Negative Sentiment: Reports of QuickBooks outages and ongoing scrutiny around TurboTax pricing and AI disruption concerns are adding uncertainty around Intuit’s business outlook. Is Intuit's QuickBooks down? Business owners report issues; company responds widespread outages

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.

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