Osmosis Investment Management UK Ltd Buys New Position in Intuit Inc. $INTU

Osmosis Investment Management UK Ltd bought a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 28,041 shares of the software maker’s stock, valued at approximately $7,319,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. XXEC Inc. acquired a new stake in shares of Intuit during the second quarter worth about $436,740,000. BlackRock Inc. acquired a new position in shares of Intuit in the second quarter valued at approximately $6,851,859,000. Norges Bank purchased a new stake in Intuit during the 4th quarter worth approximately $3,058,407,000. Bank of New York Mellon Corp purchased a new stake in Intuit during the 2nd quarter worth approximately $564,592,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Intuit by 102.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock worth $1,684,795,000 after buying an additional 1,972,719 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group cut shares of Intuit from a “neutral” rating to a “sell” rating and decreased their price target for the company from $519.00 to $276.00 in a research report on Tuesday, June 2nd. Wolfe Research reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Intuit in a research report on Thursday, May 21st. BMO Capital Markets reduced their price objective on Intuit from $550.00 to $412.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Truist Financial reiterated a “hold” rating and issued a $350.00 target price (down from $410.00) on shares of Intuit in a report on Monday, August 3rd. Finally, Barclays lowered their target price on Intuit from $540.00 to $443.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Twenty research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $449.65.

Intuit Price Performance

Shares of Intuit stock opened at $367.00 on Monday. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $705.08. The company has a 50 day moving average of $299.09 and a 200 day moving average of $359.07. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $100.39 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.15 and a beta of 0.97.

More Intuit News

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

Insider Buying and Selling

In other news, Director Richard L. Dalzell sold 284 shares of the firm’s stock in a transaction 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 sale, the director directly owned 11,758 shares in the company, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 the firm’s stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $309.71 per share, with a total value of $154,855.00. Following the completion of the transaction, the director owned 1,750 shares in the company, valued at approximately $541,992.50. The trade was a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 1,239 shares of company stock worth $348,354. Insiders own 2.49% of the company’s stock.

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.