Korea Investment CORP Takes Position in Intuit Inc. $INTU

Key Points

• Korea Investment CORP acquired 193,777 Intuit shares during the second quarter, worth approximately $50.6 million and representing about 0.07% of the company. Institutional investors collectively own 83.66% of Intuit.
• Intuit’s latest quarterly results exceeded expectations, with earnings of $12.80 per share and revenue of $8.56 billion, up 10.4% year over year. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $451.26, although several firms have recently cut targets or downgraded the stock.
• The investment outlook is mixed: analysts cite growth opportunities across TurboTax, Credit Karma and QuickBooks, while concerns include artificial-intelligence risks, valuation and a securities-fraud class-action lawsuit alleging misstatements about TurboTax and tax-related business growth.

Korea Investment CORP purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 193,777 shares of the software maker's stock, valued at approximately $50,576,000. Korea Investment CORP owned about 0.07% of Intuit at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INTU. Joseph Group Capital Management acquired a new stake in Intuit in the fourth quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management acquired a new position in shares of Intuit during the fourth quarter worth $25,000. MidFirst Bank bought a new position in shares of Intuit in the 2nd quarter valued at $28,000. HHM Wealth Advisors LLC lifted its stake in shares of Intuit by 75.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock valued at $30,000 after acquiring an additional 30 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Intuit during the 1st quarter valued at $30,000. Institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, Director Richard L. Dalzell sold 338 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the sale, the director directly owned 12,326 shares in the company, valued at $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $309.71 per share, with a total value of $154,855.00. Following the acquisition, the director owned 1,750 shares in the company, valued at approximately $541,992.50. The trade was a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 1,239 shares of company stock valued at $348,354 over the last 90 days. 2.49% of the stock is owned by corporate insiders.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Analysts Set New Price Targets

A number of brokerages recently weighed in on INTU. BMO Capital Markets reduced their price objective on Intuit from $550.00 to $412.00 and set an "outperform" rating on the stock in a research report on Thursday, May 21st. Morgan Stanley downgraded Intuit from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $580.00 to $335.00 in a research report on Tuesday, July 21st. TD Cowen restated a "buy" rating on shares of Intuit in a report on Tuesday. Piper Sandler reaffirmed an "underweight" rating and issued a $250.00 price objective on shares of Intuit in a research note on Wednesday. Finally, Jefferies Financial Group dropped their price objective on shares of Intuit from $650.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $451.26.

Intuit Stock Up 1.4%

Shares of NASDAQ:INTU opened at $367.00 on Friday. The firm has a market cap of $100.39 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.15 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. Intuit Inc. has a 12-month low of $252.84 and a 12-month high of $705.08. The business has a fifty day simple moving average of $299.09 and a 200 day simple moving average of $359.96.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, beating analysts' consensus estimates of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the company posted $11.65 EPS. The business's revenue was up 10.4% on a year-over-year basis. Analysts predict that Intuit Inc. will post 18.19 earnings per share for the current year.

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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