KBC Group NV Has $36.82 Million Stock Position in Intuit Inc. $INTU

Key Points

• KBC Group NV increased its Intuit stake by 8.1% in the first quarter, ending with 85,152 shares valued at about $36.8 million.
• Intuit is facing renewed securities class action attention, with law firms reminding investors of a September 8 lead plaintiff deadline and reports citing allegations tied to pricing misrepresentations.
• The company recently beat earnings expectations with Q1 EPS of $12.80 and revenue of $8.56 billion, while analysts remain mixed but still overall rate the stock a Moderate Buy with a consensus price target of $468.84.

KBC Group NV grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,152 shares of the software maker's stock after buying an additional 6,373 shares during the quarter. KBC Group NV's holdings in Intuit were worth $36,818,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rakuten Investment Management Inc. increased its position in shares of Intuit by 522.3% during the 4th quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker's stock valued at $34,852,000 after purchasing an additional 43,389 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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 worth $1,848,954,000 after buying an additional 471,451 shares during the last quarter. Vestcor Inc lifted its position in Intuit by 79.1% in the 4th quarter. Vestcor Inc now owns 20,717 shares of the software maker's stock worth $13,723,000 after buying an additional 9,148 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Intuit by 119.5% in the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker's stock worth $37,452,000 after buying an additional 47,148 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Intuit by 13.2% in 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. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Negative Sentiment: Several law firms issued fresh reminders about the pending class action and September 8 lead plaintiff deadline, highlighting ongoing litigation risk for Intuit investors. Article Title
• Negative Sentiment: New notices from Faruqi & Faruqi, Glancy Prongay Wolke & Rotter, Levi & Korsinsky, Robbins LLP, and BFA Law reinforce that a securities fraud lawsuit has already been filed against Intuit. Article Title
• Negative Sentiment: One report says Intuit was accused of misrepresentations about pricing issues, adding to the legal overhang that may pressure the stock. Article Title
• Neutral Sentiment: Analyst commentary noted TurboTax Live is performing well, while Intuit also plans to revamp DIY tax products with simpler offerings, better pricing, and expanded financial services to regain cost-conscious filers. Article Title
• Neutral Sentiment: Susquehanna cut its price target on Intuit to $427 from $550 but kept a positive rating, which signals some caution but still implies upside from current levels.
• Positive Sentiment: Several articles framed the recent decline in Intuit (INTU) as potentially overdone, suggesting some investors see the pullback as a buying opportunity. Article Title

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. Mizuho decreased their price target on shares of Intuit from $600.00 to $500.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 26th. Argus cut their price objective on shares of Intuit from $580.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Evercore reduced their target price on shares of Intuit from $540.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, May 21st. Wolfe Research reissued an "outperform" rating and issued a $400.00 price target on shares of Intuit in a research note on Thursday, May 21st. Finally, The Goldman Sachs Group lowered shares of Intuit from a "neutral" rating to a "sell" rating and cut their price target for the company from $519.00 to $276.00 in a research report on Tuesday, June 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $468.84.

Intuit Stock Performance

NASDAQ:INTU opened at $293.82 on Tuesday. The firm has a market cap of $80.37 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $813.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50 day moving average price of $301.21 and a 200-day moving average price of $402.03.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping analysts' consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $8.54 billion. During the same quarter in the prior year, the company earned $11.65 earnings per share. The business's revenue was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Equities research analysts predict that Intuit Inc. will post 18.18 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Thursday, July 9th were given a $1.20 dividend. The ex-dividend date was Thursday, July 9th. This represents a $4.80 annualized dividend and a yield of 1.6%. Intuit's dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling at Intuit

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the transaction, the director directly owned 12,326 shares in the company, valued at $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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 1,250 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $309.45 per share, with a total value of $386,812.50. Following the completion of the acquisition, the director directly owned 1,250 shares in the company, valued at approximately $386,812.50. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,239 shares of company stock worth $348,354 in the last quarter. Corporate insiders own 2.49% of the company's stock.

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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