Concurrent Investment Advisors LLC Acquires 9,151 Shares of Intuit Inc. $INTU

Key Points

• Concurrent Investment Advisors increased its Intuit stake by 129.2%, purchasing 9,151 additional shares to hold 16,232 shares valued at $4.24 million. Institutional investors collectively own 83.66% of Intuit.
• Intuit reported quarterly EPS of $4.03, beating estimates of $3.58, while revenue rose 13.7% year over year to $4.35 billion. The company issued fiscal 2027 EPS guidance of $22.88–$23.12.
• Intuit raised its quarterly dividend from $1.20 to $1.38 per share, representing a $5.52 annualized payout and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $434.68.

Concurrent Investment Advisors LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 129.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,232 shares of the software maker's stock after purchasing an additional 9,151 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Intuit were worth $4,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. XXEC Inc. bought a new position in shares of Intuit during the second quarter worth $436,740,000. BlackRock Inc. bought a new position in shares of Intuit during the 2nd quarter valued at about $6,851,859,000. State Street Corp grew its position in shares of Intuit by 1.4% during 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 purchasing an additional 180,069 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of Intuit in the second quarter worth about $40,545,000. Finally, Geode Capital Management LLC lifted its position 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 worth $4,369,488,000 after buying an additional 87,451 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU opened at $332.70 on Monday. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $705.08. The firm has a 50-day simple moving average of $315.84 and a two-hundred day simple moving average of $354.07. The company has a market cap of $91.01 billion, a P/E ratio of 20.16, a PEG ratio of 0.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, beating analysts' consensus estimates of $3.58 by $0.45. Intuit had a return on equity of 25.97% and a net margin of 21.29%.The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The company's quarterly revenue was up 13.7% on a year-over-year basis. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Research analysts anticipate that Intuit Inc. will post 23.49 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Thursday, October 8th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.7%. This is a positive change from Intuit's previous quarterly dividend of $1.20. The ex-dividend date is Thursday, October 8th. Intuit's dividend payout ratio is 29.09%.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit will host its annual Investor Day on Sept. 17, where management may provide additional detail on its growth strategy, product outlook and financial targets. The event could help investors reassess the company’s recently issued fiscal 2027 guidance. Intuit to Host Annual Investor Day on September 17
• Positive Sentiment: CFO Sandeep Aujla is scheduled to speak at the Goldman Sachs Communacopia + Technology Conference on Sept. 10, giving investors another opportunity to hear management address growth, demand and guidance. Intuit CFO Sandeep Aujla to Present at the Goldman Sachs Communacopia + Technology Conference
• Neutral Sentiment: KeyCorp’s fiscal 2027 EPS estimate of $23.06 is essentially in line with the roughly $23.03 consensus estimate, suggesting no meaningful new earnings revision from that coverage. KeyCorp Intuit earnings estimates
• Negative Sentiment: Several law firms announced or promoted securities-fraud class actions involving Intuit, with a Sept. 8 lead-plaintiff deadline. The allegations reportedly concern statements about TurboTax growth and cover periods ranging from February or August 2025 through May or June 2026. Although the notices do not establish wrongdoing, the repeated litigation coverage raises reputational, legal-cost and potential-liability concerns. Intuit Securities Fraud Lawsuit Deadline Intuit Investor Class Action

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INTU. Royal Bank Of Canada reduced their price objective on Intuit from $600.00 to $500.00 and set an "outperform" rating on the stock in a research note on Thursday, May 21st. Northcoast Research reduced their price target on shares of Intuit from $575.00 to $465.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. UBS Group set a $370.00 price objective on shares of Intuit in a research report on Thursday, August 27th. Weiss Ratings cut shares of Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 11th. Finally, Barclays lowered their price target on shares of Intuit from $443.00 to $408.00 and set an "overweight" rating for the company in a report on Wednesday, August 26th. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $434.68.

Insiders Place Their Bets

In other Intuit news, Director Richard L. Dalzell sold 284 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the sale, the director directly owned 11,758 shares of the company's stock, valued at $3,084,358.56. The trade was a 2.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the company's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the completion of the transaction, the chief accounting officer owned 1,628 shares in the company, valued at $564,167.12. This represents a 35.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,146 shares of company stock valued at $662,666 over the last three months. Insiders own 2.49% of the company's stock.

About Intuit

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, and TurboTax, a tax-preparation and filing service aimed at individual taxpayers. In addition to these core offerings, Intuit has expanded through acquisitions to provide complementary services such as Credit Karma (consumer credit and financial-product marketplace) and Mailchimp (marketing and commerce tools), and it offers professional-grade tax solutions for accountants and tax preparers.

The company serves a mix of consumers, small and mid-sized businesses and accounting professionals across multiple markets, with a particularly large presence in the United States and an expanding international footprint.

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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