Erste Asset Management GmbH Purchases 63,717 Shares of Intuit Inc. $INTU

Key Points

• Erste Asset Management GmbH increased its Intuit stake by 59.9% in the fourth quarter, buying 63,717 additional shares and bringing its total holding to 170,039 shares valued at about $113.9 million.
• Institutional ownership remains heavy, with 83.66% of Intuit’s stock held by institutions; other large investors like Vanguard, State Street, Geode, Norges Bank, and Invesco also reported sizable positions.
• Analysts are becoming more cautious despite a generally positive view overall: Goldman Sachs downgraded Intuit to sell and several firms cut price targets, while the consensus rating still stands at “Moderate Buy.”

Erste Asset Management GmbH boosted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 59.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 170,039 shares of the software maker's stock after purchasing an additional 63,717 shares during the quarter. Intuit comprises 1.0% of Erste Asset Management GmbH's holdings, making the stock its 25th biggest position. Erste Asset Management GmbH owned 0.06% of Intuit worth $113,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Intuit by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker's stock worth $19,156,152,000 after purchasing an additional 296,448 shares during the last quarter. State Street Corp raised its holdings in Intuit by 1.2% during the 3rd quarter. State Street Corp now owns 12,882,779 shares of the software maker's stock worth $8,797,779,000 after purchasing an additional 158,456 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intuit by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker's stock valued at $4,369,488,000 after acquiring an additional 87,451 shares during the last quarter. Norges Bank bought a new stake in shares of Intuit in the 4th quarter valued at about $3,058,407,000. Finally, Invesco Ltd. increased its stake in shares of Intuit by 7.8% in the 3rd quarter. Invesco Ltd. now owns 3,757,171 shares of the software maker's stock valued at $2,565,810,000 after acquiring an additional 271,407 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus lowered their target price on Intuit from $500.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Rothschild & Co Redburn cut their price objective on Intuit from $700.00 to $600.00 and set a "buy" rating for the company in a report on Tuesday, June 2nd. The Goldman Sachs Group downgraded Intuit from a "neutral" rating to a "sell" rating and cut their price objective for the company from $519.00 to $276.00 in a report on Tuesday, June 2nd. Freedom Capital downgraded Intuit from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Finally, Jefferies Financial Group cut their price target on Intuit from $650.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Twenty-four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average target price of $514.58.

Intuit Stock Performance

Intuit stock opened at $296.76 on Monday. Intuit Inc. has a 12-month low of $293.67 and a 12-month 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 business's 50-day moving average price is $377.58 and its two-hundred day moving average price is $485.54. The stock has a market cap of $81.18 billion, a PE ratio of 17.97, a P/E/G ratio of 1.09 and a beta of 0.98.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $8.54 billion. During the same quarter in the previous year, the business posted $11.65 earnings per share. The business's revenue for the quarter 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. As a group, analysts expect that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, July 9th. Intuit's payout ratio is currently 29.07%.

More Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Baron Capital highlighted Intuit as a strong long-term bet in its latest investor letter, reinforcing the view that the company’s software and financial platform remain attractive despite the recent stock weakness.
• Positive Sentiment: Another investor-focused article argued that Intuit remains one of the more compelling software names, suggesting some market participants still see upside in the business model and cash-flow profile.
• Neutral Sentiment: Cramer’s comments and other media coverage kept Intuit in the spotlight, but these mentions were more commentary-driven than tied to a clear new business catalyst.
• Negative Sentiment: Multiple law firms, including BFA Law, Pomerantz, and Bragar Eagel & Squire, announced investigations into Intuit after the stock’s major decline, raising concerns about possible securities-fraud claims and adding legal overhang. Article Title
• Negative Sentiment: Goldman Sachs reportedly cut Intuit, which can weigh on investor confidence and pressure the shares further.
• Negative Sentiment: News coverage focused on Intuit’s steep recent decline and investors “asking tough questions,” reinforcing bearish sentiment around the stock after the selloff. Article Title

Insider Buying and Selling

In related news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $440.40, for a total value of $146,653.20. Following the transaction, the director directly owned 13,253 shares of the company's stock, valued at $5,836,621.20. The trade was a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vasant M. Prabhu purchased 1,250 shares of the company's stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $309.45 per share, for a total transaction of $386,812.50. Following the completion of the purchase, the director owned 1,250 shares of the company's stock, valued at approximately $386,812.50. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 2.49% of the stock is owned by insiders.

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; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

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.