Meeder Advisory Services Inc. Acquires Shares of 5,212 Intuit Inc. $INTU

Meeder Advisory Services Inc. acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,212 shares of the software maker’s stock, valued at approximately $1,360,000.

Other hedge funds have also modified their holdings of the company. Rakuten Investment Management Inc. grew its holdings in shares of Intuit by 522.3% during the fourth quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock worth $34,852,000 after purchasing an additional 43,389 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Intuit by 20.3% during 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 during the last quarter. Vestcor Inc lifted its stake in shares of Intuit by 79.1% during the fourth quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock valued at $13,723,000 after acquiring an additional 9,148 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Intuit by 119.5% during the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock valued at $37,452,000 after acquiring an additional 47,148 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Intuit by 13.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker’s stock valued at $39,728,000 after acquiring an additional 6,999 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 3.4%

NASDAQ INTU opened at $362.47 on Thursday. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $705.10. The stock has a 50-day simple moving average of $295.58 and a 200 day simple moving average of $360.88. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $99.15 billion, a PE ratio of 21.95, a P/E/G ratio of 1.11 and a beta of 0.97.

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

Insider Buying and Selling

In other Intuit news, Director Richard L. Dalzell sold 284 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the completion of the sale, the director owned 11,758 shares of the company’s stock, valued at approximately $3,084,358.56. This represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the completion of the acquisition, the director owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. This trade represents a 40.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 1,239 shares of company stock worth $348,354 over the last quarter. 2.49% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit benefited from a broader rotation into enterprise software after weakness in AI hardware stocks. The move suggests traders are reassessing the durability and valuation of software businesses, although it may be a short-term sector trade. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Investor commentary highlighted Intuit’s potential to use AI through its AI-native enterprise resource planning products and Intuit Intelligence chat. A separate investment analysis argued that tax preparation and AI could complement one another, supporting the long-term growth narrative. Intuit Expanding AI-Native ERP
• Positive Sentiment: A GuruFocus analysis cited a GF Score of 78, reflecting relatively favorable quality, growth, profitability, and valuation characteristics. Intuit’s latest reported quarter also showed year-over-year revenue growth and an earnings-per-share beat, providing fundamental support for the rebound. Intuit GF Score Analysis

Analyst Ratings Changes

A number of analysts recently commented on INTU shares. Erste Group Bank upgraded Intuit to a “hold” rating in a research report on Monday, April 27th. Citigroup reduced their target price on shares of Intuit from $591.00 to $457.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Evercore reiterated an “outperform” rating on shares of Intuit in a research report on Tuesday. HSBC dropped their price target on shares of Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Rothschild & Co Redburn cut their price objective on shares of Intuit from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. Twenty investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $451.26.

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.