Panagora Asset Management Inc. Trims Position in Intuit Inc. $INTU

Key Points

• Panagora Asset Management Inc. reduced its stake in Intuit Inc. by 0.7% during the first quarter, now holding 64,428 shares valued at $39.56 million.
• Intuit reported earnings per share of $2.75 for the last quarter, surpassing estimates, and saw revenue growth of 20.3% year-over-year.
• The company has increased its quarterly dividend to $1.20 per share, reflecting an annualized dividend of $4.80 and a yield of 0.7%.

Panagora Asset Management Inc. trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,428 shares of the software maker's stock after selling 462 shares during the quarter. Panagora Asset Management Inc.'s holdings in Intuit were worth $39,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after buying an additional 294,993 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Intuit by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock worth $5,537,435,000 after acquiring an additional 649,212 shares during the last quarter. Wellington Management Group LLP raised its stake in Intuit by 6.8% during the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock worth $3,472,266,000 after purchasing an additional 358,328 shares during the period. Brown Advisory Inc. grew its holdings in shares of Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after purchasing an additional 252,265 shares during the period. Finally, Invesco Ltd. boosted its position in Intuit by 1.2% during the 1st 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. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $6.69 during midday trading on Wednesday, hitting $668.68. The stock had a trading volume of 1,979,251 shares, compared to its average volume of 1,823,083. The company has a quick ratio of 1.45, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $186.53 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 2.57 and a beta of 1.26. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The company's 50-day moving average price is $743.45 and its 200-day moving average price is $678.79.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the firm earned $1.99 earnings per share. The business's quarterly revenue was up 20.3% on a year-over-year basis. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be issued a $1.20 dividend. This is a boost from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Intuit's dividend payout ratio is currently 30.28%.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. The trade was a 98.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 42 shares of Intuit stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $664.99, for a total value of $27,929.58. Following the transaction, the chief financial officer directly owned 831 shares of the company's stock, valued at $552,606.69. The trade was a 4.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,488 shares of company stock worth $56,356,595. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on INTU. Evercore ISI lifted their price target on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. The Goldman Sachs Group upped their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. KeyCorp cut their price target on shares of Intuit from $850.00 to $825.00 and set an "overweight" rating on the stock in a report on Friday, August 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $825.00 price target (up 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 issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $797.62.

About Intuit

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.