Compass Wealth Management LLC Takes Position in Intuit Inc. $INTU

Key Points

• Compass Wealth Management acquired 4,005 Intuit shares during the second quarter, valued at approximately $1.05 million. Institutional investors collectively own 83.66% of the company.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and a $454.65 price target, although several firms recently lowered their targets. Mizuho, for example, cut its target to $430 while retaining an “outperform” rating.
• Intuit’s latest quarter exceeded expectations, with EPS of $12.80 versus a $12.57 estimate and revenue of $8.56 billion, up 10.4% year over year. The stock opened at $350.41, while a director recently purchased 1,250 shares.

Compass Wealth Management LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,005 shares of the software maker's stock, valued at approximately $1,045,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Intuit by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker's stock valued at $19,156,152,000 after purchasing an additional 296,448 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Intuit in the 2nd quarter worth $6,851,859,000. State Street Corp lifted its holdings in shares of Intuit by 1.4% in the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker's stock valued at $8,653,092,000 after buying an additional 180,069 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Intuit by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker's stock valued at $4,369,488,000 after buying an additional 87,451 shares during the period. Finally, Morgan Stanley boosted its stake in Intuit by 1.2% during the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker's stock valued at $3,378,912,000 after buying an additional 60,910 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on INTU. Susquehanna cut their price target on shares of Intuit from $550.00 to $427.00 and set a "positive" rating for the company in a report on Monday, July 20th. Oppenheimer lowered their price objective on shares of Intuit from $558.00 to $406.00 and set an "outperform" rating on the stock in a research note on Thursday, May 21st. TD Cowen reiterated a "buy" rating on shares of Intuit in a report on Tuesday. Rothschild & Co Redburn cut their target price on shares of Intuit from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, June 2nd. Finally, Mizuho reduced their target price on shares of Intuit from $500.00 to $430.00 and set an "outperform" rating for the company in a report on Monday. Twenty investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $454.65.

Insider Activity

In other news, Director Vasant M. Prabhu bought 1,250 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $309.45 per share, with a total value of $386,812.50. Following the completion of the transaction, the director directly owned 1,250 shares in the company, valued at approximately $386,812.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $94,592.68. Following the completion of the sale, the director owned 12,326 shares of the company's stock, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,239 shares of company stock valued at $348,354. Corporate insiders own 2.49% of the company's stock.

Intuit Trading Up 4.4%

NASDAQ:INTU opened at $350.41 on Wednesday. The stock has a fifty day simple moving average of $294.02 and a 200 day simple moving average of $361.87. The firm has a market capitalization of $95.85 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.97. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $719.10. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data 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 firm 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 business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $11.65 EPS. Sell-side analysts forecast that Intuit Inc. will post 18.18 earnings per share for the current year.

Key Intuit News

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.

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