Meridian Management Co. Buys New Stake in Intuit Inc. $INTU

Key Points

• Meridian Management Co. opened a new position in Intuit during Q1, buying 8,562 shares worth about $3.7 million. The filing underscores continued institutional interest in the software maker, which is heavily owned by hedge funds and other institutions.
• Intuit’s latest earnings were solid, with EPS of $12.80 and revenue of $8.56 billion, both topping expectations. The company also raised guidance for fiscal 2026, though recent volatility and analyst caution remain in focus.
• The stock has faced pressure from several headwinds, including lawsuit-related overhang, a recent sell-equivalent rating from Piper Sandler, and broader concerns about growth in businesses like Mailchimp and Credit Karma. Intuit shares were down about 2.5% and were trading far below their 52-week high.

Meridian Management Co. bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,562 shares of the software maker's stock, valued at approximately $3,702,000.

Other hedge funds also recently bought and sold shares of the company. Joseph Group Capital Management purchased a new stake in shares of Intuit in the fourth quarter valued at $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in Intuit during the 4th quarter worth about $25,000. HHM Wealth Advisors LLC increased its position in Intuit by 75.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Intuit in the 1st quarter valued at about $30,000. Finally, CrossGen Wealth LLC acquired a new position in Intuit in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Some investors are treating the recent pullback as an oversold rebound opportunity, with renewed interest in Intuit’s AI-enabled tax and financial software story after the post-earnings selloff. Intuit Gains as Investors Reassess Its Post-Earnings Selloff
• Neutral Sentiment: Intuit still reported solid fiscal Q3 results in May, beating EPS and revenue estimates and raising full-year guidance, which provides some support for the stock despite the current volatility.
• Negative Sentiment: Multiple law firms announced or promoted a securities class-action lawsuit and related investigations tied to Intuit’s disclosures around TurboTax, adding legal overhang and headline risk. Pomerantz Law Firm Announces the Filing of a Class Action Against Intuit Inc. and Certain Officers – INTU
• Negative Sentiment: Piper Sandler initiated coverage with a sell-equivalent rating and a street-low price target, reinforcing concerns about growth in key businesses such as Mailchimp and Credit Karma. Intuit Shares Slip After Piper Sandler Initiates Coverage With Street-Low Price Target (INTU)
• Negative Sentiment: Recent commentary also highlights weaker tax-season results and workforce reductions, which have fueled analyst caution and weakened sentiment around INTU’s near-term growth outlook. Are Legal Strains Diluting Intuit’s (INTU) AI-Driven Tax Software Narrative?

Insider Transactions at Intuit

In other news, Director Vasant M. Prabhu bought 500 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the acquisition, the director owned 1,750 shares of the company's stock, valued at $541,992.50. This trade represents a 40.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard L. Dalzell sold 284 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total transaction of $74,498.88. Following the sale, the director directly owned 11,758 shares of the company's stock, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,239 shares of company stock valued at $348,354 in the last quarter. Company insiders own 2.49% of the company's stock.

Intuit Stock Down 2.5%

Shares of NASDAQ INTU opened at $282.43 on Wednesday. The stock has a market capitalization of $77.26 billion, a PE ratio of 17.11, a P/E/G ratio of 1.06 and a beta of 1.00. 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 $309.72 and a 200-day moving average of $412.85. Intuit Inc. has a 52-week low of $252.84 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, topping the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period last year, the company posted $11.65 EPS. The business's quarterly revenue was up 10.4% on a year-over-year basis. 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 18.19 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 9th. Intuit's payout ratio is currently 29.07%.

Analyst Ratings Changes

Several research firms have issued reports on INTU. The Goldman Sachs Group cut shares of Intuit from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $519.00 to $276.00 in a research note on Tuesday, June 2nd. Erste Group Bank raised shares of Intuit to a "hold" rating in a research report on Monday, April 27th. Truist Financial reduced their price objective on shares of Intuit from $500.00 to $410.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Wolfe Research restated an "outperform" rating and set a $400.00 target price on shares of Intuit in a research report on Thursday, May 21st. Finally, Rothschild & Co Redburn lowered their target price on shares of Intuit from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, June 2nd. Twenty-two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $490.39.

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.

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