Investment Management Corp of Ontario Raises Stock Position in Intuit Inc. $INTU

Key Points

• Institutional buying increased: Investment Management Corp of Ontario raised its Intuit stake by 84.1% in the fourth quarter, and several other hedge funds also boosted their positions. Institutional investors and hedge funds now own 83.66% of the company.
• Analysts turned more cautious: Multiple firms cut their price targets on Intuit, and Goldman Sachs downgraded the stock to Sell amid concerns that AI could weaken TurboTax revenue over time. The consensus rating remains Moderate Buy, but the average price target has fallen to $511.35.
• Intuit’s latest results were solid despite the stock drop: The company reported quarterly EPS of $12.80, beating estimates, with revenue of $8.56 billion and 10.4% year-over-year growth. Intuit also announced a quarterly dividend of $1.20 per share, payable July 17.

Investment Management Corp of Ontario lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 84.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,995 shares of the software maker's stock after acquiring an additional 10,964 shares during the quarter. Investment Management Corp of Ontario's holdings in Intuit were worth $15,895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of INTU. Rakuten Investment Management Inc. increased its position in Intuit by 522.3% during the 4th quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker's stock worth $34,852,000 after purchasing an additional 43,389 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Intuit by 20.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker's stock valued at $1,848,954,000 after purchasing an additional 471,451 shares in the last quarter. Vestcor Inc boosted its stake in shares of Intuit by 79.1% during the 4th quarter. Vestcor Inc now owns 20,717 shares of the software maker's stock worth $13,723,000 after purchasing an additional 9,148 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Intuit by 15.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 47,629 shares of the software maker's stock worth $32,526,000 after purchasing an additional 6,503 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Intuit by 13.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker's stock worth $39,728,000 after buying an additional 6,999 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $282.20, for a total transaction of $80,144.80. Following the transaction, the director directly owned 12,042 shares of the company's stock, valued at $3,398,252.40. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing 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 acquired 500 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $309.71 per share, with a total value of $154,855.00. Following the transaction, the director directly owned 1,750 shares of the company's stock, valued at approximately $541,992.50. This represents a 40.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 955 shares of company stock valued at $273,855 in the last quarter. Company insiders own 2.49% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on INTU shares. Rothschild & Co Redburn cut their price objective on shares of Intuit from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, June 2nd. Susquehanna lowered their target price on shares of Intuit from $640.00 to $550.00 and set a "positive" rating for the company in a research note on Friday, May 22nd. Citigroup cut their price target on Intuit from $649.00 to $591.00 and set a "buy" rating for the company in a report on Thursday, May 21st. JPMorgan Chase & Co. reduced their price target on Intuit from $750.00 to $605.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Finally, Oppenheimer lowered their price objective on Intuit from $558.00 to $406.00 and set an "outperform" rating for the company in a research report on Thursday, May 21st. Twenty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $511.35.

Intuit Stock Down 4.2%

Shares of NASDAQ INTU opened at $269.08 on Thursday. The stock has a market capitalization of $73.60 billion, a PE ratio of 16.30, a P/E/G ratio of 1.03 and a beta of 0.98. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average of $354.99 and a 200-day moving average of $465.17. Intuit Inc. has a 52-week low of $268.01 and a 52-week high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share 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 firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $11.65 earnings per share. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. On average, analysts anticipate that Intuit Inc. will post 18.18 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be issued a dividend of $1.20 per share. The ex-dividend date is Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. Intuit's payout ratio is presently 29.07%.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit selected Mother New York as its creative-strategic agency partner, aiming to sharpen its positioning as a growth-oriented business solution. Intuit Selects Mother New York As Creative-Strategic Agency Partner
• Positive Sentiment: Intuit named company veteran Tyler Cozzens as its new general counsel, a move that may reassure investors on continuity in legal and governance leadership. Intuit Names Company Veteran Tyler Cozzens as New General Counsel, Succeeding Kerry McLean
• Neutral Sentiment: QuickBooks Premier is being promoted on sale, which is standard product marketing and not a major stock-moving catalyst on its own. Inventory, invoices, reports, and cash flow — QuickBooks Premier is on sale for $399.99
• Negative Sentiment: Goldman Sachs downgraded Intuit to Sell, warning that AI could erode TurboTax revenue over time and raising concerns about the company’s long-term growth outlook. Goldman Sachs Downgrades Intuit (INTU) to Sell and Says AI Could Gut TurboTax Revenue by 2030
• Negative Sentiment: Intuit is also facing investor lawsuits and fraud-related investigations tied to pricing issues, adding legal overhang and sentiment pressure on the stock. $INTU Fraud Notice: BFA Law is Investigating Intuit for Securities Fraud over its Pricing Issues – Investors with Losses Notified to Contact the Firm

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.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

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.