Haverford Trust Co Takes Position in Intuit Inc. $INTU

Key Points

• Haverford Trust Co. acquired 45,923 Intuit shares during the second quarter, worth approximately $12.0 million. Institutional investors collectively own 83.66% of the company.
• Intuit reported quarterly earnings of $12.80 per share, exceeding expectations of $12.57, while revenue rose 10.4% year over year to $8.56 billion.
• Analyst sentiment remains mixed: Intuit has a “Moderate Buy” consensus rating and a $451.26 average price target, but several firms have recently lowered targets or issued sell and underweight ratings amid valuation, growth and artificial-intelligence concerns.

Haverford Trust Co purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,923 shares of the software maker's stock, valued at approximately $11,986,000.

Other hedge funds have also bought and sold shares of the company. Joseph Group Capital Management acquired a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management bought a new position in shares of Intuit during the fourth quarter worth approximately $25,000. MidFirst Bank acquired a new stake in shares of Intuit in the second quarter valued at approximately $28,000. HHM Wealth Advisors LLC raised its position in shares of Intuit by 75.0% in the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock valued at $30,000 after buying an additional 30 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Intuit in the first quarter valued at approximately $30,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of INTU stock opened at $367.00 on Friday. The business has a fifty day simple moving average of $299.09 and a 200 day simple moving average of $359.96. The company has a market cap of $100.39 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.15 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. Intuit Inc. has a twelve month low of $252.84 and a twelve month high of $705.08.

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. The firm had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $11.65 earnings per share. On average, sell-side analysts forecast that Intuit Inc. will post 18.19 EPS for the current fiscal year.

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the sale, the director directly owned 12,326 shares in the company, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the firm's stock in a transaction that occurred on 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 directly owned 1,750 shares in the company, valued at $541,992.50. The trade was a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 1,239 shares of company stock valued at $348,354 in the last three months. Company insiders own 2.49% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. HSBC reduced their price target on Intuit from $897.00 to $707.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Oppenheimer cut their target price on Intuit from $558.00 to $406.00 and set an "outperform" rating for the company in a research report on Thursday, May 21st. Weiss Ratings lowered Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 11th. Mizuho reduced their target price on Intuit from $500.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, August 17th. Finally, The Goldman Sachs Group cut Intuit from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $519.00 to $276.00 in a research report on Tuesday, June 2nd. Twenty equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus price target of $451.26.

Intuit News Roundup

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 Company 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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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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