First Nebraska Trust Co Makes New Investment in Intuit Inc. $INTU

Key Points

• First Nebraska Trust Co. acquired 13,436 Intuit shares in the second quarter, worth approximately $3.5 million. Institutional investors collectively own 83.66% of the company.
• Intuit reported quarterly EPS of $12.80, exceeding the $12.57 consensus estimate, while revenue rose 10.4% year over year to $8.56 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $451.26, although several firms have reduced their targets. Investors also face potential risks from a securities-fraud class action alleging misstatements about TurboTax and tax-business growth.

First Nebraska Trust Co acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 13,436 shares of the software maker's stock, valued at approximately $3,507,000.

A number of other hedge funds also recently modified their holdings of the stock. XXEC Inc. acquired a new position in Intuit in the 2nd quarter valued at about $436,740,000. Vanguard Group Inc. lifted its position in Intuit by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker's stock worth $19,156,152,000 after acquiring an additional 296,448 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Intuit during the second quarter worth approximately $6,851,859,000. State Street Corp boosted its holdings 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 worth $8,653,092,000 after acquiring an additional 180,069 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $4,369,488,000 after purchasing an additional 87,451 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Up 1.4%

NASDAQ INTU opened at $367.00 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market cap of $100.39 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.15 and a beta of 0.97. The company has a 50 day moving average of $299.09 and a 200-day moving average of $359.96. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $705.08.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the prior year, the business posted $11.65 earnings per share. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts expect that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of the company's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the sale, the director directly owned 12,326 shares in the company, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of Intuit stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $309.71 per share, for a total transaction of $154,855.00. Following the completion of the acquisition, the director owned 1,750 shares in the company, valued at $541,992.50. This represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 1,239 shares of company stock valued at $348,354 over the last ninety days. Insiders own 2.49% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Intuit from $540.00 to $443.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. Daiwa Securities Group reduced their price target on Intuit from $640.00 to $500.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Rothschild & Co Redburn decreased their price objective on Intuit from $700.00 to $600.00 and set a "buy" rating on the stock in a report on Tuesday, June 2nd. Susquehanna lowered their price objective on Intuit from $550.00 to $427.00 and set a "positive" rating on the stock in a research report on Monday, July 20th. Finally, Stifel Nicolaus reissued a "hold" rating and set a $275.00 target price (down from $375.00) on shares of Intuit in a report on Wednesday, June 17th. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $451.26.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Intuit 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.

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