CIBC Asset Management Inc Boosts Stake in Intuit Inc. $INTU

Key Points

• CIBC Asset Management increased its Intuit stake by 29.6% in the fourth quarter, ending with 144,328 shares valued at about $95.6 million. Institutional investors continue to dominate ownership, holding 83.66% of the company.
• Intuit reported strong fiscal Q3 results, with EPS of $12.80 and revenue of $8.56 billion, both slightly ahead of expectations. The company also raised guidance for Q4 2026 and FY 2026.
• Despite solid fundamentals, sentiment has weakened: Goldman Sachs downgraded Intuit to Sell over TurboTax pricing and competition concerns, and the stock has faced legal scrutiny and sharp underperformance recently.

CIBC Asset Management Inc grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 29.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 144,328 shares of the software maker's stock after acquiring an additional 32,965 shares during the period. CIBC Asset Management Inc owned about 0.05% of Intuit worth $95,606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Joseph Group Capital Management purchased a new stake in shares of Intuit in the 4th quarter worth about $25,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Intuit in the 3rd quarter worth about $33,000. Barnes Dennig Private Wealth Management LLC grew its position in shares of Intuit by 54.3% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the software maker's stock worth $36,000 after buying an additional 19 shares during the period. Steph & Co. grew its position in shares of Intuit by 346.2% in the 4th quarter. Steph & Co. now owns 58 shares of the software maker's stock worth $38,000 after buying an additional 45 shares during the period. Finally, High Point Wealth Management LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In related news, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $440.40, for a total transaction of $146,653.20. Following the sale, the director owned 13,253 shares of the company's stock, valued at $5,836,621.20. This represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vasant M. Prabhu acquired 500 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were bought at an average price 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.49% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $322.14 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 firm has a fifty day moving average price of $388.38 and a 200 day moving average price of $495.29. Intuit Inc. has a fifty-two week low of $300.50 and a fifty-two week high of $813.70. The firm has a market cap of $88.12 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 0.98.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping analysts' consensus estimates of $12.57 by $0.23. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $11.65 earnings per share. 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, sell-side analysts expect that Intuit Inc. will post 17.6 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Intuit's dividend payout ratio is presently 29.07%.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Negative Sentiment: Goldman Sachs downgraded Intuit to Sell, citing concerns that pricing issues and competition could pressure TurboTax growth and margins. Intuit Stock Slides After Goldman Downgrades To Sell
• Negative Sentiment: Several legal headlines added to the pressure, with law firms launching securities-fraud investigations after the stock’s recent drop on pricing concerns. INTU Stock Drop: Intuit Investigated for Securities Fraud after Stock Plummets 20% on Pricing Issues
• Negative Sentiment: Forbes highlighted that Intuit has become one of the S&P 500’s worst performers this year, reflecting investor concern over how much value the company has lost in the past year. Intuit Becomes S&P 500's Worst Performer This Year: Here's Why
• Negative Sentiment: Another report noted that an investor could be viewing Intuit as “a falling knife,” underscoring weakening sentiment after the recent plunge. Why Is Intuit Stock Crashing, and is it a Generational Buying Opportunity?
• Neutral Sentiment: Some commentary still points to long-term strengths, including AI initiatives in Mailchimp and arguments that Intuit may be undervalued, but these positives are being overshadowed by the near-term downgrade and legal headlines. Mailchimp's AI Bet: Can Intuit Unlock the Next Growth Lever?

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. Northcoast Research cut their price target on Intuit from $575.00 to $465.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. BMO Capital Markets cut their price target on Intuit from $550.00 to $412.00 and set an "outperform" rating on the stock in a research note on Thursday, May 21st. Susquehanna cut their price target on Intuit from $640.00 to $550.00 and set a "positive" rating on the stock in a research note on Friday, May 22nd. BNP Paribas Exane cut their price target on Intuit from $463.00 to $315.00 and set a "neutral" rating on the stock in a research note on Thursday, May 21st. Finally, Bank of America initiated coverage on Intuit in a research note on Wednesday, May 27th. They issued a "buy" rating and a $400.00 price target on the stock. Twenty-four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and a consensus target price of $514.58.

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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