Tocqueville Asset Management L.P. Makes New $4.44 Million Investment in Intuit Inc. $INTU

Key Points

• Tocqueville Asset Management initiated a roughly $4.44 million position in Intuit during the second quarter by purchasing 17,010 shares. Institutional investors collectively own 83.66% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $451.26, although several firms recently lowered their targets. Piper Sandler remains more cautious with an Underweight rating and a $250 target.
• Intuit’s latest quarterly results exceeded expectations, with EPS of $12.80 and revenue of $8.56 billion, up 10.4% year over year. Investors are watching growth in TurboTax Live, Credit Karma and QuickBooks, alongside litigation allegations and concerns about tax-business competition and valuation.

Tocqueville Asset Management L.P. acquired a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,010 shares of the software maker's stock, valued at approximately $4,440,000.

Other hedge funds have also made changes to their positions in the company. Rakuten Investment Management Inc. increased its stake in Intuit by 522.3% during the 4th quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker's stock worth $34,852,000 after buying an additional 43,389 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Intuit by 20.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker's stock worth $1,848,954,000 after acquiring an additional 471,451 shares in the last quarter. Vestcor Inc boosted its holdings in Intuit by 79.1% in the fourth quarter. Vestcor Inc now owns 20,717 shares of the software maker's stock valued at $13,723,000 after purchasing an additional 9,148 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Intuit by 119.5% in the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker's stock valued at $37,452,000 after purchasing an additional 47,148 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Intuit by 13.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker's stock valued at $39,728,000 after purchasing an additional 6,999 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INTU. Royal Bank Of Canada dropped their price objective on Intuit from $600.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, May 21st. Bank of America initiated coverage on Intuit in a research note on Wednesday, May 27th. They set a "buy" rating and a $400.00 target price for the company. Evercore reissued an "outperform" rating on shares of Intuit in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intuit from $530.00 to $425.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Citigroup cut their price target on shares of Intuit from $591.00 to $457.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $451.26.

Insider Buying and Selling at Intuit

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the sale, the director directly owned 12,326 shares of the company's stock, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of Intuit stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the completion of the transaction, the director owned 1,750 shares in the company, valued at approximately $541,992.50. The trade was a 40.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 1,239 shares of company stock worth $348,354 over the last 90 days. 2.49% of the stock is currently owned by company insiders.

Key Headlines Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Analysts are focused on continued momentum in TurboTax Live, Credit Karma and QuickBooks heading into the July 2026 quarter. Strong customer growth, bookings and revenue trends in these businesses could support an earnings beat. Can Intuit's Key Growth Engines Power Strong Q4 Results?
• Positive Sentiment: Bank of America maintained a Buy rating and its $400 price target, citing Intuit’s durable growth drivers and attractive valuation. Other previews suggest compressed valuation, previously raised guidance and positive expectations could create room for an upside surprise. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Wall Street projections for revenue, earnings and key operating metrics will be important because investors are weighing growth against elevated expectations. The company’s actual results and forward guidance may determine whether the pre-earnings optimism holds. Insights Into Intuit Q4: Wall Street Projections for Key Metrics
• Negative Sentiment: Several law firms publicized a securities class action alleging that Intuit and certain executives misled investors about the sustainability of TurboTax growth and failed to disclose competitive and pricing pressures. The allegations have not been proven, but the repeated announcements increase headline and potential litigation risk; September 8 is cited as the lead-plaintiff deadline. Pomerantz Announces Class Action Against Intuit
• Negative Sentiment: Piper Sandler reaffirmed an Underweight rating and assigned a $250 price target, implying substantial downside from recent trading levels. This contrasts with more optimistic analyst views and underscores uncertainty surrounding Intuit’s tax business and valuation. Piper Sandler Intuit Rating

Intuit Trading Down 0.2%

Shares of NASDAQ INTU opened at $361.87 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average price is $297.28 and its two-hundred day moving average price is $359.91. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $705.08. The stock has a market capitalization of $98.99 billion, a P/E ratio of 21.92, a PEG ratio of 1.15 and a beta of 0.97.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same quarter last year, the firm earned $11.65 EPS. The business's revenue was up 10.4% on a year-over-year basis. On average, analysts anticipate that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

Intuit Profile

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; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source