Intuit Inc. $INTU Stake Raised by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased its stake in Intuit Inc. by 30.6% in the first quarter, bringing its total holdings to 12,431 shares valued at $7,591,000.
• Intuit reported a quarterly earnings per share (EPS) of $2.75, surpassing the consensus estimate of $2.66, and a revenue increase of 20.3% year-over-year.
• The company announced a dividend increase from $1.04 to $1.20 per share, with a dividend yield of 0.7% and a payout ratio of 30.28%.

Eventide Asset Management LLC raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 30.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,431 shares of the software maker's stock after buying an additional 2,912 shares during the quarter. Eventide Asset Management LLC's holdings in Intuit were worth $7,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after buying an additional 294,993 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Intuit by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock valued at $5,537,435,000 after buying an additional 649,212 shares during the period. Wellington Management Group LLP grew its holdings in Intuit by 6.8% in the 1st quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock valued at $3,472,266,000 after buying an additional 358,328 shares during the period. Brown Advisory Inc. grew its holdings in Intuit by 7.9% in the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after buying an additional 252,265 shares during the period. Finally, Invesco Ltd. grew its holdings in Intuit by 1.2% in the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after buying an additional 36,513 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the transaction, the insider owned 6,000,679 shares of the company's stock, valued at $4,596,460,107.21. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,738 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,029 shares of company stock valued at $55,231,998. Corporate insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INTU shares. The Goldman Sachs Group boosted their target price on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Piper Sandler reiterated an "overweight" rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. JPMorgan Chase & Co. decreased their target price on Intuit from $770.00 to $750.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. Morgan Stanley decreased their target price on Intuit from $900.00 to $880.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. Finally, Citigroup decreased their target price on Intuit from $815.00 to $803.00 and set a "buy" rating for the company in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $797.62.

Intuit Stock Performance

Shares of INTU stock traded up $4.53 on Friday, hitting $672.82. 1,614,052 shares of the stock traded hands, compared to its average volume of 2,172,303. The company has a market capitalization of $187.58 billion, a PE ratio of 48.97, a PEG ratio of 2.60 and a beta of 1.26. The company's fifty day moving average is $737.50 and its 200 day moving average is $680.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The firm's revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.99 EPS. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, equities research analysts predict that Intuit Inc. will post 14.09 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 17th. Investors of record on Thursday, October 9th will be paid a dividend of $1.20 per share. This is an increase from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Intuit's dividend payout ratio (DPR) is 30.28%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.