BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,539 Shares of Intuit Inc. $INTU

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has reduced its stake in Intuit Inc. by 5.7%, now holding 125,233 shares worth approximately $76.89 million.
• Intuit reported earnings of $2.75 per share for the last quarter, exceeding analyst estimates and showing a 20.3% increase in revenue year-over-year.
• Insider trading activity includes significant sales by top executives, with a total of 279,800 shares sold over the last quarter, amounting to over $209 million in value.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 125,233 shares of the software maker's stock after selling 7,539 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Intuit were worth $76,892,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Decatur Capital Management Inc. grew its position in shares of Intuit by 0.3% in the first quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker's stock valued at $3,069,000 after purchasing an additional 16 shares during the period. Financial Management Professionals Inc. grew its position in shares of Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares during the period. Chris Bulman Inc grew its position in shares of Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares during the period. Kolinsky Wealth Management LLC grew its position in Intuit by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after acquiring an additional 19 shares during the period. Finally, Norden Group LLC grew its position in Intuit by 1.2% during the first quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock valued at $1,021,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,738 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the sale, the chief accounting officer owned 455 shares of the company's stock, valued at $356,760.95. This trade 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 sold 107,817 shares of company stock valued at $82,475,471. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Susquehanna reissued a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Barclays lowered their target price on Intuit from $815.00 to $785.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price objective on shares of Intuit in a report on Friday, August 22nd. Finally, The Goldman Sachs Group increased their price objective on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $797.62.

Intuit Stock Up 1.4%

Shares of NASDAQ INTU traded up $9.08 during mid-day trading on Thursday, reaching $672.25. The company had a trading volume of 898,082 shares, compared to its average volume of 1,816,974. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.45 and a current ratio of 1.36. The stock has a market capitalization of $187.52 billion, a PE ratio of 48.98, a price-to-earnings-growth ratio of 2.58 and a beta of 1.28. The stock's 50 day moving average is $750.92 and its 200-day moving average is $675.88.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share 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 for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business posted $1.99 earnings per share. Intuit's revenue for the quarter 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. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

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