XXEC Inc. Invests $436.74 Million in Intuit Inc. $INTU

XXEC Inc. bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, Holdings Channel reports. The fund bought 140,939,987 shares of the software maker’s stock, valued at approximately $436,740,000. Intuit makes up approximately 0.2% of XXEC Inc.’s portfolio, making the stock its 16th largest position. XXEC Inc. owned 0.52% of Intuit at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Intuit by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock worth $19,156,152,000 after acquiring an additional 296,448 shares during the period. BlackRock Inc. purchased a new position in Intuit during the second quarter valued at $6,851,859,000. State Street Corp grew its position in shares of Intuit by 1.4% in the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock valued at $8,653,092,000 after purchasing an additional 180,069 shares during the period. Geode Capital Management LLC grew its position in shares of Intuit by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock valued at $4,369,488,000 after purchasing an additional 87,451 shares during the period. Finally, Morgan Stanley increased its stake in shares of Intuit by 1.2% during the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after purchasing an additional 60,910 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, Director Vasant M. Prabhu bought 500 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director directly owned 1,750 shares of the company’s stock, valued at $541,992.50. This trade represents a 40.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard L. Dalzell sold 284 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total value of $74,498.88. Following the transaction, the director owned 11,758 shares in the company, valued at approximately $3,084,358.56. This represents a 2.36% 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. In the last quarter, insiders sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Susquehanna reduced their price target on shares of Intuit from $550.00 to $427.00 and set a “positive” rating for the company in a research report on Monday, July 20th. BMO Capital Markets lowered their price objective on Intuit from $550.00 to $412.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Oppenheimer cut their price objective on Intuit from $558.00 to $406.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reduced their target price on Intuit from $530.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Daiwa Securities Group decreased their target price on Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Twenty analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $451.26.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s TurboTax, Credit Karma and QuickBooks businesses remain central to the bullish case. Analysts say the company is building a year-round consumer financial platform and using cross-selling to increase engagement and average revenue per user. Intuit Consumer Flywheel Gains: Can Cross-Selling Sustain Higher ARPU?
• Positive Sentiment: Some analysts see potential for an upside earnings surprise, citing valuation compression, raised guidance and continued momentum in Intuit’s key growth engines. Bank of America maintained a Buy rating and a $400 price target, supporting investor confidence before the report. Intuit: Resilient Growth Drivers and Attractive Valuation Support Buy Rating
• Neutral Sentiment: Options-oriented coverage highlights the possibility of generating income by selling calls against existing INTU shares. The strategy may provide an attractive yield but limits upside if the stock rises above the option’s strike price. Get Paid 16% A Year To Hold INTU Stock You Already Own
• Neutral Sentiment: Wall Street’s outlook is mixed ahead of earnings. Piper Sandler reaffirmed an Underweight rating, while another valuation update reduced its fair-value estimate from $488.17 to $449.20, reflecting concerns about growth expectations, valuation and potential artificial-intelligence risks. Piper Sandler Reaffirms Underweight Rating for Intuit
• Negative Sentiment: Several law firms are publicizing a securities-fraud class action against Intuit and certain officers. The lawsuit alleges that the company made material misstatements or omissions about the strength of its tax-related business and TurboTax growth disclosures. Investors face a September 8 deadline to seek lead-plaintiff status. The legal claims are allegations and could create reputational, financial and investor-confidence risks. Intuit Securities Fraud Class Action Deadline Alert

Intuit Price Performance

Shares of NASDAQ INTU opened at $367.00 on Friday. The firm has a 50-day simple moving average of $299.09 and a 200-day simple moving average of $359.96. 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 has a market capitalization of $100.39 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $705.08.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period in the previous year, the business posted $11.65 earnings per share. Intuit’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts predict that Intuit Inc. will post 18.19 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.