The Manufacturers Life Insurance Company Buys Shares of 688,360 Intuit Inc. $INTU

The Manufacturers Life Insurance Company purchased a new position in Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 688,360 shares of the software maker’s stock, valued at approximately $179,663,000.

Other large investors also recently made changes to their positions in the company. Rakuten Investment Management Inc. raised its position in shares of Intuit by 522.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock valued at $34,852,000 after purchasing an additional 43,389 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Intuit by 20.3% during the 4th 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 buying an additional 471,451 shares during the period. Vestcor Inc boosted its holdings in shares of Intuit by 79.1% during the 4th quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock worth $13,723,000 after buying an additional 9,148 shares during the period. Janney Montgomery Scott LLC grew its stake in Intuit by 119.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock valued at $37,452,000 after buying an additional 47,148 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Intuit by 13.2% in 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 buying an additional 6,999 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, Director Richard L. Dalzell sold 338 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the transaction, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. The trade was a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,239 shares of company stock worth $348,354. Insiders own 2.49% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $369.92 on Tuesday. The stock has a market cap of $101.19 billion, a P/E ratio of 22.41, a PEG ratio of 1.15 and a beta of 0.97. Intuit Inc. has a one year low of $252.84 and a one year high of $705.08. The company has a fifty day moving average price of $300.85 and a 200 day moving average price of $358.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Argus cut their target price on shares of Intuit from $580.00 to $480.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Intuit from $530.00 to $425.00 and set a “buy” rating on the stock in a research report on Wednesday, August 19th. UBS Group reiterated a “neutral” rating on shares of Intuit in a research note on Tuesday, August 18th. BNP Paribas Exane cut their price objective on Intuit from $463.00 to $315.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. Finally, HSBC decreased their target price on Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Twenty analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.65.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Analysts expect fiscal fourth-quarter revenue and earnings-per-share growth, with consensus EPS near $3.58–$3.59, compared with $2.75 a year earlier. Strength in QuickBooks, Credit Karma and AI-related offerings could support the stock if Intuit meets or exceeds expectations. Intuit to Report Q4 Earnings: What Should Investors Do?
• Positive Sentiment: Some commentary describes INTU as potentially undervalued after its steep one-year decline. Bulls argue that new conversational-AI capabilities and the company’s recurring software ecosystem could help restore revenue and profit growth. Intuit Stock Could Be A Bargain After A 44% Fall
• Neutral Sentiment: The options market is pricing a roughly 9% potential post-earnings move, indicating unusually high near-term volatility. The market’s reaction is likely to depend more on forward guidance and AI adoption trends than on the quarterly numbers alone. Intuit Options Market Prices a 9% Swing Ahead of Earnings
• Negative Sentiment: Jefferies lowered its price target to $500 from $550, warning that the earnings bar may still be difficult to clear despite reduced expectations. Concerns include slowing TurboTax momentum and the possibility that generative AI could weaken Intuit’s competitive advantage. Jefferies Cuts Intuit Price Target
• Negative Sentiment: Multiple law firms promoted a securities class action and a September 8 lead-plaintiff deadline. The allegations focus on whether Intuit overstated AI-driven growth and the strength of its tax-related business. These are allegations, not proven findings, but the litigation creates an additional overhang for investors. Rosen Intuit Securities Class Action Deadline

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