Cibc World Market Inc. Boosts Holdings in Intuit Inc. $INTU

Key Points

• Cibc World Market Inc. increased its Intuit stake by 266.1% in the fourth quarter, ending with 58,448 shares valued at about $38.7 million.
• Wall Street sentiment remains mixed but still constructive overall: analysts have issued 24 Buy ratings, 7 Hold ratings and 1 Sell rating, with a consensus target price of $514.58.
• Intuit recently beat quarterly earnings and revenue estimates, but the stock has also faced pressure from legal investigations and concerns about AI-driven tax competition after some analyst target cuts.

Cibc World Market Inc. grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 266.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,448 shares of the software maker's stock after purchasing an additional 42,482 shares during the quarter. Cibc World Market Inc.'s holdings in Intuit were worth $38,717,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. NEOS Investment Management LLC grew its position in Intuit by 63.8% during the 3rd quarter. NEOS Investment Management LLC now owns 121,516 shares of the software maker's stock worth $82,984,000 after purchasing an additional 47,330 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Intuit by 20.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker's stock worth $1,848,954,000 after buying an additional 471,451 shares during the last quarter. Varma Mutual Pension Insurance Co lifted its stake in shares of Intuit by 8.7% during the third quarter. Varma Mutual Pension Insurance Co now owns 45,058 shares of the software maker's stock worth $30,771,000 after buying an additional 3,600 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Intuit by 15.8% during the third quarter. Crossmark Global Holdings Inc. now owns 47,629 shares of the software maker's stock valued at $32,526,000 after buying an additional 6,503 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its holdings in shares of Intuit by 8.4% during the third quarter. Magellan Asset Management Ltd now owns 285,052 shares of the software maker's stock valued at $194,665,000 after buying an additional 22,051 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research analyst reports. Daiwa Securities Group reduced their target price on Intuit from $640.00 to $500.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. UBS Group cut their price objective on Intuit from $440.00 to $360.00 and set a "neutral" rating on the stock in a report on Thursday, May 21st. Freedom Capital cut Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft decreased their target price on Intuit from $600.00 to $530.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Finally, Royal Bank Of Canada dropped their target price on Intuit from $600.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, May 21st. Twenty-four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $514.58.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of Intuit investors, adding to concerns that the company could face shareholder litigation over its disclosures. Article
• Negative Sentiment: BFA Law and Schall Law both highlighted pending securities-fraud investigations related to Intuit’s pricing claims, reinforcing worries about potential legal overhang and management credibility. Article
• Negative Sentiment: Goldman Sachs reportedly cut Intuit, with one report citing intensifying AI-driven tax competition, which may signal slowing growth and margin pressure ahead. Article
• Neutral Sentiment: Intuit also announced upcoming investor conference presentations by CFO Sandeep Aujla and executive Mark Notarainni, which keeps management visible to the market but is unlikely by itself to move the stock materially. Article
• Neutral Sentiment: Some coverage continued to highlight Intuit as a top-ranked software name, but these pieces were more generic and did not offset the legal and analyst headlines driving sentiment. Article

Intuit Stock Performance

Shares of INTU stock opened at $301.86 on Friday. Intuit Inc. has a 52-week low of $300.50 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 stock has a market cap of $82.57 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. The business has a 50-day simple moving average of $380.18 and a 200-day simple moving average of $487.99.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, beating the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company had revenue of $8.56 billion during the quarter, compared to analysts' expectations of $8.54 billion. During the same period last year, the business earned $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. On average, equities analysts expect that Intuit Inc. will post 18.07 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be issued 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 1.6%. Intuit's dividend payout ratio is 29.07%.

Insider Buying and Selling at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $440.40, for a total value of $146,653.20. Following the completion of the transaction, the director owned 13,253 shares of the company's stock, valued at approximately $5,836,621.20. The trade was a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vasant M. Prabhu acquired 500 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $309.71 per share, with a total value of $154,855.00. Following 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 position. The SEC filing for this purchase provides additional information. 2.49% of the stock is currently owned by company insiders.

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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