TD Waterhouse Canada Inc. Cuts Holdings in Intuit Inc. $INTU

Key Points

• TD Waterhouse Canada reduced its Intuit stake by 15.1% in the second quarter, selling 4,042 shares and retaining 22,693 shares valued at approximately $6.06 million. Institutional investors overall own 83.66% of Intuit.
• Intuit reported quarterly EPS of $4.03 and revenue of $4.35 billion, beating analyst estimates, while revenue increased 13.7% year over year. The company also raised its quarterly dividend to $1.38 per share, a 15% increase.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $434.68. Upcoming investor and management presentations could provide more detail on growth plans, while securities-fraud lawsuits related to TurboTax statements pose potential legal and reputational risks.

TD Waterhouse Canada Inc. lowered its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,693 shares of the software maker's stock after selling 4,042 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Intuit were worth $6,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Barlow Wealth Partners LLC grew its holdings in shares of Intuit by 191.6% during the 2nd quarter. Barlow Wealth Partners LLC now owns 41,262 shares of the software maker's stock worth $11,227,000 after purchasing an additional 27,111 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Intuit by 129.2% in the second quarter. Concurrent Investment Advisors LLC now owns 16,232 shares of the software maker's stock valued at $4,237,000 after buying an additional 9,151 shares during the period. NEOS Investment Management LLC raised its holdings in Intuit by 10.1% in the second quarter. NEOS Investment Management LLC now owns 210,096 shares of the software maker's stock valued at $54,835,000 after buying an additional 19,277 shares during the period. AXQ Capital LP acquired a new position in Intuit during the second quarter valued at approximately $232,000. Finally, iSAM Funds UK Ltd purchased a new stake in Intuit during the second quarter worth approximately $240,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INTU. UBS Group set a $370.00 price objective on shares of Intuit in a research report on Thursday, August 27th. HSBC reduced their target price on shares of Intuit from $897.00 to $707.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Stifel Nicolaus set a $300.00 price target on Intuit in a report on Wednesday, August 26th. Mizuho cut their price objective on Intuit from $500.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, August 17th. Finally, Piper Sandler boosted their price objective on Intuit from $250.00 to $290.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 26th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $434.68.

More Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit will host its annual Investor Day on Sept. 17, where management may provide additional detail on its growth strategy, product outlook and financial targets. The event could help investors reassess the company’s recently issued fiscal 2027 guidance. Intuit to Host Annual Investor Day on September 17
• Positive Sentiment: CFO Sandeep Aujla is scheduled to speak at the Goldman Sachs Communacopia + Technology Conference on Sept. 10, giving investors another opportunity to hear management address growth, demand and guidance. Intuit CFO Sandeep Aujla to Present at the Goldman Sachs Communacopia + Technology Conference
• Neutral Sentiment: KeyCorp’s fiscal 2027 EPS estimate of $23.06 is essentially in line with the roughly $23.03 consensus estimate, suggesting no meaningful new earnings revision from that coverage. KeyCorp Intuit earnings estimates
• Negative Sentiment: Several law firms announced or promoted securities-fraud class actions involving Intuit, with a Sept. 8 lead-plaintiff deadline. The allegations reportedly concern statements about TurboTax growth and cover periods ranging from February or August 2025 through May or June 2026. Although the notices do not establish wrongdoing, the repeated litigation coverage raises reputational, legal-cost and potential-liability concerns. Intuit Securities Fraud Lawsuit Deadline Intuit Investor Class Action

Intuit Stock Performance

INTU opened at $332.70 on Monday. The firm's 50 day moving average is $315.84 and its 200-day moving average is $354.07. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $705.08. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $91.01 billion, a P/E ratio of 20.16, a P/E/G ratio of 0.95 and a beta of 0.98.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the firm earned $2.75 earnings per share. The business's quarterly revenue was up 13.7% compared to the same quarter last year. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Analysts expect that Intuit Inc. will post 23.49 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Thursday, October 8th will be paid a dividend of $1.38 per share. This is a boost from Intuit's previous quarterly dividend of $1.20. This represents a $5.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, October 8th. Intuit's payout ratio is 29.09%.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 907 shares of Intuit stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the sale, the chief accounting officer directly owned 1,628 shares in the company, valued at $564,167.12. The trade was a 35.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard L. Dalzell sold 284 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the transaction, the director directly owned 11,758 shares in the company, valued at approximately $3,084,358.56. The trade was a 2.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,146 shares of company stock valued at $662,666 over the last 90 days. Insiders own 2.49% of the company's stock.

About Intuit

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, and TurboTax, a tax-preparation and filing service aimed at individual taxpayers. In addition to these core offerings, Intuit has expanded through acquisitions to provide complementary services such as Credit Karma (consumer credit and financial-product marketplace) and Mailchimp (marketing and commerce tools), and it offers professional-grade tax solutions for accountants and tax preparers.

The company serves a mix of consumers, small and mid-sized businesses and accounting professionals across multiple markets, with a particularly large presence in the United States and an expanding international footprint.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.