Jericho Capital Asset Management L.P. Invests $267.02 Million in Intuit Inc. $INTU

Jericho Capital Asset Management L.P. bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 391,000 shares of the software maker’s stock, valued at approximately $267,018,000. Intuit accounts for about 2.8% of Jericho Capital Asset Management L.P.’s portfolio, making the stock its 15th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Intuit in the 2nd quarter worth about $3,268,830,000. Alliancebernstein L.P. boosted its holdings in shares of Intuit by 183.8% in the third quarter. Alliancebernstein L.P. now owns 1,999,737 shares of the software maker’s stock worth $1,365,640,000 after buying an additional 1,295,199 shares during the period. Nicholas Hoffman & Company LLC. acquired a new position in shares of Intuit in the first quarter worth about $785,564,000. Winslow Capital Management LLC acquired a new position in shares of Intuit in the second quarter worth about $782,677,000. Finally, Vanguard Group Inc. increased its position in shares of Intuit by 3.3% in the third quarter. Vanguard Group Inc. now owns 28,621,990 shares of the software maker’s stock worth $19,546,243,000 after acquiring an additional 914,024 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, CEO Sasan K. Goodarzi sold 41,000 shares of Intuit stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $650.10, for a total transaction of $26,654,100.00. Following the completion of the sale, the chief executive officer owned 13,611 shares of the company’s stock, valued at approximately $8,848,511.10. This trade represents a 75.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott D. Cook sold 1,402 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $668.02, for a total value of $936,564.04. Following the completion of the transaction, the director owned 5,668,182 shares in the company, valued at $3,786,458,939.64. This trade represents a 0.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,501 shares of company stock valued at $79,983,892 in the last three months. 2.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on INTU shares. Wall Street Zen lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Daiwa Securities Group lowered their price objective on shares of Intuit from $800.00 to $640.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Wolfe Research set a $550.00 target price on shares of Intuit and gave the company an “outperform” rating in a research note on Thursday. Evercore restated an “outperform” rating and issued a $875.00 target price on shares of Intuit in a report on Tuesday, November 18th. Finally, Mizuho decreased their target price on Intuit from $675.00 to $600.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $634.26.

Intuit Stock Performance

INTU stock opened at $439.96 on Monday. The firm has a 50 day simple moving average of $482.31 and a 200 day simple moving average of $599.82. Intuit Inc. has a 52 week low of $349.00 and a 52 week high of $813.70. The stock has a market cap of $121.67 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.32 and a current ratio of 1.32.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 26th. The software maker reported $4.15 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.47. Intuit had a net margin of 21.57% and a return on equity of 24.23%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the business earned $3.32 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Intuit has set its Q3 2026 guidance at 12.450-12.510 EPS and its FY 2026 guidance at 22.980-23.180 EPS. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 9th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.1%. Intuit’s dividend payout ratio is 31.09%.

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.