Rockland Trust Co. Boosts Position in Intuit Inc. $INTU

Key Points

• Rockland Trust increased its Intuit position by 8.7% in the third quarter, bringing its holdings to 82,444 shares valued at approximately $22.7 million. Institutional investors and hedge funds collectively own 83.66% of Intuit.
• Analyst sentiment is mixed: 16 analysts rate Intuit a Buy, 12 a Hold and three a Sell, resulting in an overall “Hold” consensus and a $431.55 average price target.
• Intuit exceeded quarterly earnings and revenue expectations, while raising its quarterly dividend from $1.20 to $1.38 per share. Shares recently traded at $281.80, well below their 12-month high of $689.17.

Rockland Trust Co. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,444 shares of the software maker's stock after purchasing an additional 6,628 shares during the period. Rockland Trust Co.'s holdings in Intuit were worth $22,731,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. XXEC Inc. acquired a new position in shares of Intuit in the second quarter worth approximately $436,740,000. BlackRock Inc. bought a new stake in Intuit in the second quarter valued at approximately $6,851,859,000. Corient Private Wealth LP acquired a new stake in Intuit during the 2nd quarter valued at approximately $40,545,000. Bank of America Corp DE bought a new position in Intuit during the 2nd quarter worth approximately $589,841,000. Finally, Bank of New York Mellon Corp bought a new position in Intuit during the 2nd quarter worth approximately $564,592,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, CAO Lauren Hotz sold 907 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the sale, the chief accounting officer directly owned 1,628 shares of the company's stock, valued at $564,167.12. This trade represents a 35.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard Dalzell sold 285 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the sale, the director owned 11,531 shares in the company, valued at approximately $3,751,726.16. The trade was a 2.41% decrease in their ownership of the stock. 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 own 2.49% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent analyst reports. Bank of America cut shares of Intuit from a "buy" rating to a "neutral" rating and set a $360.00 price objective for the company. in a research report on Wednesday, August 26th. Royal Bank Of Canada restated an "outperform" rating and issued a $385.00 target price on shares of Intuit in a report on Friday. Wells Fargo & Company cut their price target on shares of Intuit from $360.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 26th. UBS Group reiterated a "neutral" rating on shares of Intuit in a report on Friday, September 18th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Intuit in a research report on Monday, September 21st. Sixteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $431.55.

Intuit Stock Up 0.3%

Shares of INTU traded up $0.72 during trading hours on Monday, reaching $281.80. The stock had a trading volume of 1,398,140 shares, compared to its average volume of 4,282,503. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $689.17. The firm has a 50-day simple moving average of $324.10 and a 200 day simple moving average of $337.49. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $75.31 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 0.82 and a beta of 1.01.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.58 by $0.45. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. Intuit had a return on equity of 25.97% and a net margin of 21.29%.The company's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 EPS. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Equities research analysts predict that Intuit Inc. will post 23.01 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 8th will be issued a $1.38 dividend. This is a boost from Intuit's previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.0%. Intuit's payout ratio is presently 29.09%.

Intuit Profile

Intuit Inc is a global financial technology and business software company headquartered in Mountain View, California. The company develops products designed to help consumers, small businesses and accounting professionals manage finances, prepare taxes, operate businesses and make financial decisions.

Its principal products and services include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, payroll, payments and related business management tools; Credit Karma, a personal finance platform offering credit monitoring and financial product recommendations; and Mailchimp, an email marketing and customer engagement service for businesses.

Intuit was founded in 1983 by Scott Cook and Tom Proulx.

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