Kayne Anderson Rudnick Investment Management LLC Trims Stock Holdings in Intuit Inc. $INTU

Key Points

• Kayne Anderson Rudnick Investment Management LLC sold 2,609 shares of Intuit Inc., reducing its stake by 5.9%, and now owns 41,895 shares valued at approximately $25.7 million.
• Recent reports indicate mixed opinions on Intuit's stock, with price targets adjusted by major firms; BMO Capital Markets raised its target to $870, while Citigroup and JPMorgan lowered theirs to $803 and $750, respectively.
• Insider trading activity includes significant sales by executives, with the EVP and CFO selling large portions of their holdings, suggesting possible concern about the company's stock performance.

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,895 shares of the software maker's stock after selling 2,609 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Intuit were worth $25,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after purchasing an additional 36,513 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Intuit by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock valued at $1,130,718,000 after buying an additional 82,419 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after buying an additional 623 shares during the period. Circle Wealth Management LLC boosted its holdings in Intuit by 33.4% in the 1st quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker's stock worth $2,119,000 after buying an additional 865 shares during the period. Finally, Capitolis Liquid Global Markets LLC purchased a new stake in Intuit in the 4th quarter worth $109,988,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction dated Wednesday, July 2nd. The shares were 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 owned 19 shares of the company's stock, valued at $14,704.10. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,817 shares of company stock valued at $82,475,471. 2.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

INTU has been the topic of several research analyst reports. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. Susquehanna reissued a "positive" rating on shares of Intuit in a report on Friday, May 23rd. KeyCorp dropped their price target on Intuit from $850.00 to $825.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $850.00 price objective on shares of Intuit in a report on Friday, August 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $797.62.

Intuit Price Performance

Shares of NASDAQ INTU traded down $1.20 during midday trading on Friday, reaching $667.00. 1,589,187 shares of the stock traded hands, compared to its average volume of 1,819,306. The company's 50 day moving average is $749.19 and its 200 day moving average is $676.44. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.45. The stock has a market capitalization of $186.06 billion, a PE ratio of 48.54, a P/E/G ratio of 2.60 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. Intuit's revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.99 earnings per share. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current 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 paid a $1.20 dividend. The ex-dividend date is Thursday, October 9th. This is a positive change from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. Intuit's payout ratio 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.