Price T Rowe Associates Inc. MD Increases Stake in Intuit Inc. $INTU

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Intuit Inc. by 7.8%, holding a total of 9,018,770 shares worth approximately $5.54 billion.
• Multiple hedge funds, including Vanguard Group Inc. and Wellington Management Group LLP, also raised their positions in Intuit during the 1st quarter, reflecting a growing institutional interest in the company.
• Analysts have given Intuit an average rating of “Moderate Buy” with a target price of $809.86, indicating positive outlooks following the company's strong quarterly earnings, which exceeded estimates.

Price T Rowe Associates Inc. MD grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,018,770 shares of the software maker's stock after buying an additional 649,212 shares during the period. Intuit makes up 0.7% of Price T Rowe Associates Inc. MD's investment portfolio, making the stock its 21st largest holding. Price T Rowe Associates Inc. MD owned about 3.23% of Intuit worth $5,537,435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTU. Copia Wealth Management bought a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Olde Wealth Management LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Intuit by 523.1% during 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 in the last quarter. Finally, Hughes Financial Services LLC bought a new position in shares of Intuit in the 1st quarter worth $50,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Mark P. Notarainni sold 1,147 shares of the firm's 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 completion of the sale, the executive vice president directly owned 19 shares of the company's stock, valued at $14,704.10. This trade represents a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director directly owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Intuit from $770.00 to $750.00 and set an "overweight" rating on the stock in a report on Friday. Barclays cut their target price on Intuit from $815.00 to $785.00 and set an "overweight" rating on the stock in a report on Friday. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets increased their target price on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, Morgan Stanley cut their target price on Intuit from $900.00 to $880.00 and set an "overweight" rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $797.62.

Intuit Stock Down 5.0%

NASDAQ:INTU traded down $35.10 during trading hours on Friday, hitting $662.66. 6,366,419 shares of the company traded hands, compared to its average volume of 1,783,431. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm's 50-day simple moving average is $757.08 and its 200-day simple moving average is $674.94. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company has a market cap of $184.85 billion, a PE ratio of 48.23, a PEG ratio of 2.55 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Intuit had a return on equity of 23.01% and a net margin of 20.55%.The business had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same period last year, the business earned $1.99 EPS. The business's 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. Equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

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.