State of Wyoming Purchases Shares of 1,493 Intuit Inc. $INTU

State of Wyoming purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,493 shares of the software maker’s stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors also recently modified their holdings of INTU. Joseph Group Capital Management purchased a new position in Intuit in the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Intuit during the 4th quarter valued at $25,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Intuit during the 3rd quarter valued at $33,000. Birchwood Financial Partners Inc. bought a new stake in shares of Intuit during the 4th quarter worth $33,000. Finally, Sankala Group LLC bought a new stake in shares of Intuit during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $350.41 on Wednesday. The firm has a market cap of $95.85 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.09 and a beta of 0.97. The firm’s fifty day moving average is $294.02 and its 200 day moving average is $361.87. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $719.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45.

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 the consensus estimate of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same period in the previous year, the firm posted $11.65 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts predict that Intuit Inc. will post 18.18 earnings per share for the current year.

Insider Transactions at Intuit

In related news, Director Vasant M. Prabhu acquired 1,250 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $309.45 per share, for a total transaction of $386,812.50. Following the completion of the acquisition, the director owned 1,250 shares in the company, valued at approximately $386,812.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $94,592.68. Following the completion of the sale, the director directly owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their position. 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 1,239 shares of company stock worth $348,354 over the last ninety days. Insiders own 2.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INTU shares. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $580.00 to $335.00 in a research note on Tuesday, July 21st. Evercore reiterated an “outperform” rating on shares of Intuit in a report on Tuesday. The Goldman Sachs Group cut Intuit from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $519.00 to $276.00 in a report on Tuesday, June 2nd. Susquehanna reduced their price objective on Intuit from $550.00 to $427.00 and set a “positive” rating on the stock in a research report on Monday, July 20th. Finally, KeyCorp decreased their price objective on Intuit from $520.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Twenty investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $454.65.

More Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Software-sector rotation supported INTU. A sharp selloff in AI hardware stocks redirected capital toward enterprise software companies, including Intuit, Monday.com and HubSpot. Investors may be reassessing the durability and valuation of software businesses after their recent weakness, although the article cautions that the move could be a short-term trading rotation. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Growth and AI initiatives remain part of the bullish case. Coverage highlighted Intuit’s expansion of AI-native enterprise resource planning tools and the launch of Intuit Intelligence. Analysts and financial commentary also point to growth in advanced products, a potentially large mid-market opportunity and expectations for earnings growth. Intuit’s latest reported quarter included revenue growth of 10.4% year over year and an EPS beat.
• Positive Sentiment: Mizuho retained a favorable view despite reducing its target. Mizuho lowered its price target from $500 to $430 but maintained an “outperform” rating, signaling that the firm still sees meaningful upside after becoming more conservative on valuation or growth assumptions.

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.