Scharf Investments LLC Buys 482 Shares of Intuit Inc. $INTU

Key Points

• Scharf Investments LLC increased its holdings in Intuit Inc. by 8.8% during Q2, now owning nearly 6,000 shares valued at approximately $4.7 million.
• Intuit's quarterly earnings surpassed expectations with $2.75 per share, and revenue reached $3.83 billion, reflecting a 20.3% increase year-over-year.
• The company announced a dividend increase to $1.20 per share, up from $1.04, which will be paid on October 17th, 2023.

Scharf Investments LLC grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,989 shares of the software maker's stock after purchasing an additional 482 shares during the period. Scharf Investments LLC's holdings in Intuit were worth $4,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after purchasing an additional 1,350 shares during the period. Revolve Wealth Partners LLC increased its stake in Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after acquiring an additional 482 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after acquiring an additional 248 shares in the last quarter. Forum Financial Management LP raised its position in shares of Intuit by 29.6% in the 4th quarter. Forum Financial Management LP now owns 1,450 shares of the software maker's stock worth $911,000 after acquiring an additional 331 shares in the last quarter. Finally, Value Partners Investments Inc. increased its position in Intuit by 1.8% in the 4th quarter. Value Partners Investments Inc. now owns 3,363 shares of the software maker's stock valued at $2,112,000 after buying an additional 59 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares in the company, valued at approximately $14,704.10. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott D. Cook sold 529 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $664.99, for a total value of $351,779.71. Following the completion of the transaction, the director directly owned 6,162,547 shares in the company, valued at approximately $4,098,032,129.53. This represents a 0.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,879 shares of company stock worth $7,558,613 in the last 90 days. Company insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INTU. Stifel Nicolaus decreased their price target on shares of Intuit from $850.00 to $800.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. BMO Capital Markets lifted their price target on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. reduced their target price on shares of Intuit from $770.00 to $750.00 and set an "overweight" rating on the stock in a report on Friday, August 22nd. KeyCorp lowered their price target on shares of Intuit from $850.00 to $825.00 and set an "overweight" rating for the company in a research report on Friday, August 22nd. Finally, Barclays cut their price target on shares of Intuit from $815.00 to $785.00 and set an "overweight" rating on the stock in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target of $797.62.

Intuit Trading Up 2.1%

NASDAQ INTU traded up $14.17 during mid-day trading on Monday, reaching $702.09. 2,403,184 shares of the stock were exchanged, compared to its average volume of 2,059,445. The business's fifty day simple moving average is $714.44 and its 200 day simple moving average is $686.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The stock has a market capitalization of $195.74 billion, a PE ratio of 51.10, a PEG ratio of 2.66 and a beta of 1.26.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm earned $1.99 earnings per share. The business's revenue was up 20.3% compared to the same quarter last year. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, October 9th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. This is an increase from Intuit's previous quarterly dividend of $1.04. The ex-dividend date is Thursday, October 9th. Intuit's dividend payout ratio (DPR) is 30.28%.

Intuit Company 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.