Intuit Inc. $INTU Holdings Raised by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC increased its stake in Intuit Inc. by 4.6% in the first quarter, owning approximately 1,168,978 shares valued at $717.7 million, making it the 23rd largest position in their portfolio.
• Intuit reported a quarterly EPS of $2.75, exceeding analysts' estimates, with revenues totaling $3.83 billion, a year-over-year increase of 20.3%.
• The company recently declared a quarterly dividend increase to $1.20 per share, with a yield of 0.7%, marking an increase from the prior dividend of $1.04.

Parnassus Investments LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,168,978 shares of the software maker's stock after purchasing an additional 51,651 shares during the quarter. Intuit comprises about 1.7% of Parnassus Investments LLC's investment portfolio, making the stock its 23rd biggest position. Parnassus Investments LLC owned about 0.42% of Intuit worth $717,741,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. TD Capital Management LLC raised its position in shares of Intuit by 511.1% in the 1st quarter. TD Capital Management LLC now owns 55 shares of the software maker's stock worth $34,000 after buying an additional 46 shares during the period. Olde Wealth Management LLC purchased a new position in shares of Intuit in the 1st quarter worth $37,000. Finally, Atlantic Edge Private Wealth Management LLC raised its position in shares of Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INTU. Barclays cut their target price on Intuit from $815.00 to $785.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. KeyCorp cut their target price on Intuit from $850.00 to $825.00 and set an "overweight" rating on the stock in a research report on Friday, August 22nd. UBS Group cut their target price on Intuit from $750.00 to $725.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Citigroup cut their target price on Intuit from $815.00 to $803.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. One research 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $797.62.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 42 shares of Intuit stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $27,929.58. Following the sale, the chief financial officer directly owned 831 shares of the company's stock, valued at approximately $552,606.69. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $664.99, for a total value of $351,779.71. Following the sale, the director directly owned 6,162,547 shares in the company, valued at approximately $4,098,032,129.53. The trade was a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,488 shares of company stock valued at $56,356,595. Company insiders own 2.68% of the company's stock.

Intuit Stock Down 0.1%

NASDAQ:INTU traded down $0.68 during mid-day trading on Wednesday, hitting $661.31. The company had a trading volume of 725,651 shares, compared to its average volume of 1,815,277. The business has a fifty day simple moving average of $743.45 and a 200-day simple moving average of $678.79. The company has a current ratio of 1.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The firm has a market capitalization of $184.47 billion, a price-to-earnings ratio of 48.22, a PEG ratio of 2.57 and a beta of 1.26.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company earned $1.99 earnings per share. The company's revenue for the quarter was up 20.3% compared to the same quarter last year. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share 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 given a dividend of $1.20 per share. The ex-dividend date of this dividend 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 dividend yield of 0.7%. Intuit's dividend payout ratio is presently 30.28%.

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.