9,970 Shares in Intuit Inc. $INTU Purchased by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,970 shares of the software maker’s stock, valued at approximately $2,602,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of INTU. Betterment LLC grew its position in shares of Intuit by 2.1% during the third quarter. Betterment LLC now owns 779 shares of the software maker’s stock worth $532,000 after buying an additional 16 shares in the last quarter. One Capital Management LLC increased its stake in shares of Intuit by 2.7% in the third quarter. One Capital Management LLC now owns 681 shares of the software maker’s stock worth $465,000 after buying an additional 18 shares during the last quarter. Quadcap Wealth Management LLC raised its holdings in Intuit by 1.0% in the third quarter. Quadcap Wealth Management LLC now owns 1,801 shares of the software maker’s stock valued at $1,230,000 after acquiring an additional 18 shares in the last quarter. United Asset Strategies Inc. raised its holdings in Intuit by 1.0% in the fourth quarter. United Asset Strategies Inc. now owns 2,036 shares of the software maker’s stock valued at $1,349,000 after acquiring an additional 20 shares in the last quarter. Finally, Sage Private Wealth Group LLC boosted its stake in Intuit by 2.8% during the 4th quarter. Sage Private Wealth Group LLC now owns 802 shares of the software maker’s stock valued at $531,000 after acquiring an additional 22 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 284 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total transaction of $74,498.88. Following the completion of the transaction, the director owned 11,758 shares in the company, valued at approximately $3,084,358.56. The trade was a 2.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu acquired 500 shares of Intuit stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $309.71 per share, with a total value of $154,855.00. Following the acquisition, the director directly owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. This trade represents a 40.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 1,239 shares of company stock worth $348,354. Corporate insiders own 2.49% of the company’s stock.

Intuit Price Performance

INTU opened at $367.00 on Friday. The firm has a market cap of $100.39 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $705.08. The company’s 50-day moving average price is $299.09 and its 200 day moving average price is $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.

Intuit (NASDAQ:INTU) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, beating analysts’ consensus estimates of $12.57 by $0.23. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.Intuit’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $11.65 earnings per share. As a group, sell-side analysts expect that Intuit Inc. will post 18.19 earnings per share for the current year.

Key Headlines 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

Wall Street Analysts Forecast Growth

INTU has been the topic of several research analyst reports. Jefferies Financial Group reduced their price target on shares of Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Erste Group Bank raised Intuit to a “hold” rating in a report on Monday, April 27th. Truist Financial restated a “hold” rating and set a $350.00 price objective (down from $410.00) on shares of Intuit in a research note on Monday, August 3rd. Evercore reaffirmed an “outperform” rating on shares of Intuit in a report on Tuesday. Finally, UBS Group reiterated a “neutral” rating on shares of Intuit in a report on Tuesday. Twenty equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $451.26.

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.