Engineers Gate Manager LP Has $5.09 Million Position in Intuit Inc. $INTU

Key Points

• Engineers Gate Manager LP increased its Intuit stake by 2,259.7% in the second quarter, ending with 19,515 shares valued at approximately $5.09 million. Institutional investors collectively own 83.66% of Intuit.
• Analyst sentiment remains mixed: 17 analysts rate Intuit a Buy, 11 a Hold and three a Sell, producing a consensus Hold rating and an average price target of $430.97.
• Intuit reported quarterly EPS of $4.03 and revenue of $4.35 billion, beating estimates while revenue grew 13.7% year over year. The company also raised its quarterly dividend to $1.38 per share, or $5.52 annually.

Engineers Gate Manager LP lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2,259.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,515 shares of the software maker's stock after acquiring an additional 18,688 shares during the period. Engineers Gate Manager LP's holdings in Intuit were worth $5,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in INTU. XXEC Inc. bought a new stake in shares of Intuit in the 2nd quarter valued at $436,740,000. California State Teachers Retirement System grew its holdings in Intuit by 25,506.0% in the second quarter. California State Teachers Retirement System now owns 108,342,405 shares of the software maker's stock worth $28,277,368,000 after purchasing an additional 107,919,292 shares during the period. BlackRock Inc. bought a new stake in Intuit in the second quarter valued at $6,851,859,000. Corient Private Wealth LP acquired a new position in Intuit during the 2nd quarter worth approximately $40,545,000. Finally, Norges Bank acquired a new stake in Intuit in the fourth quarter valued at approximately $3,058,407,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INTU shares. Jefferies Financial Group cut their target price on Intuit from $550.00 to $500.00 and set a "buy" rating on the stock in a report on Sunday, August 23rd. BMO Capital Markets restated an "outperform" rating on shares of Intuit in a report on Wednesday, August 26th. Bank of America lowered shares of Intuit from a "buy" rating to a "neutral" rating and set a $360.00 price objective on the stock. in a research note on Wednesday, August 26th. Northcoast Research reduced their price objective on shares of Intuit from $575.00 to $465.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Finally, Citigroup decreased their target price on shares of Intuit from $591.00 to $457.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Intuit has a consensus rating of "Hold" and an average target price of $430.97.

Intuit News Summary

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating and set a $385 price target, implying meaningful upside from recent trading levels. The endorsement supports the view that Intuit’s valuation does not fully reflect its long-term growth opportunities.
• Positive Sentiment: Intuit’s CFO outlined plans to build an “end-to-end consumer platform” spanning tax, personal finance, credit and other financial-management services. Greater integration across TurboTax, Credit Karma and related products could increase customer engagement, cross-selling and recurring revenue. Intuit CFO outlines consumer platform strategy
• Positive Sentiment: A review of Intuit’s latest quarterly results highlighted its earnings beat and double-digit revenue growth, reinforcing the company’s strong fundamental performance relative to parts of the finance and human-resources software sector. Intuit Q2 earnings review
• Neutral Sentiment: Director Richard Dalzell sold 285 shares worth approximately $92,728 under a pre-arranged Rule 10b5-1 trading plan. The transaction reduced his ownership by 2.41%, but its planned nature limits its value as a signal about management’s current outlook. Intuit insider transaction filing
• Negative Sentiment: A tax-policy analysis criticized Intuit for reportedly paying no federal corporate income tax, potentially renewing reputational and regulatory concerns surrounding TurboTax and the tax-preparation industry. The report is unlikely to affect near-term earnings but may add headline risk. ITEP analysis of Intuit’s federal taxes

Intuit Price Performance

INTU opened at $321.57 on Friday. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $705.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.45. The company has a market capitalization of $85.94 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 0.89 and a beta of 0.98. The firm's fifty day moving average price is $320.93 and its two-hundred day moving average price is $352.07.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, beating the consensus estimate of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. The firm's revenue for the quarter 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. As a group, analysts anticipate that Intuit Inc. will post 23.49 earnings per share for the current fiscal year.

Intuit Increases Dividend

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

Insider Activity at Intuit

In other Intuit news, Director Richard L. Dalzell sold 285 shares of the business's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total value of $92,727.60. Following the transaction, the director owned 11,531 shares of the company's stock, valued at approximately $3,751,726.16. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the transaction, the chief accounting officer owned 1,628 shares of the company's stock, valued at $564,167.12. This trade represents a 35.78% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,760 shares of company stock worth $561,683. Insiders own 2.49% of the company's stock.

Intuit Profile

Intuit Inc is a financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, tax obligations and customer relationships. The company is headquartered in Mountain View, California, and serves customers primarily in the United States and Canada, with additional international availability for certain products.

Its principal offerings include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, invoicing, payroll and payments tools for small businesses and self-employed individuals; Credit Karma, a personal finance platform offering credit monitoring and related financial products; and Mailchimp, an email marketing and customer engagement service for businesses.

Intuit was founded in 1983 by Scott Cook and Tom Proulx.

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