24,255 Shares in Intuit Inc. $INTU Bought by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,255 shares of the software maker’s stock, valued at approximately $6,331,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rakuten Investment Management Inc. increased its stake in shares of Intuit by 522.3% during the 4th 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 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 valued at $1,848,954,000 after purchasing an additional 471,451 shares in the last quarter. Vestcor Inc lifted its stake in shares of Intuit by 79.1% in the 4th quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock valued at $13,723,000 after purchasing an additional 9,148 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of 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 purchasing an additional 47,148 shares during the last quarter. 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 worth $39,728,000 after purchasing an additional 6,999 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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

Analysts Set New Price Targets

Several equities analysts have commented on INTU shares. Freedom Capital downgraded shares of Intuit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Royal Bank Of Canada reduced their price target on Intuit from $600.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. TD Cowen reiterated a “buy” rating on shares of Intuit in a research note on Tuesday. Rothschild & Co Redburn lowered their price objective on Intuit from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. Finally, Oppenheimer cut their price objective on Intuit from $558.00 to $406.00 and set an “outperform” rating on the stock 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $451.26.

Insider Activity at Intuit

In other news, Director Vasant M. Prabhu acquired 500 shares of the stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $309.71 per share, for a total transaction 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. This trade represents a 40.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction on 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 transaction, the director owned 12,326 shares of the company’s stock, valued at $3,449,554.36. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,239 shares of company stock valued at $348,354. Insiders own 2.49% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $367.00 on Friday. The firm’s 50-day moving average is $299.09 and its 200-day moving average is $359.96. The company has a market cap of $100.39 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.15 and a beta of 0.97. 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 Inc. has a 52-week low of $252.84 and a 52-week high of $705.08.

Intuit (NASDAQ:INTU) last released its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, beating 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 analysts’ expectations of $8.54 billion. During the same quarter last year, the company earned $11.65 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 18.19 earnings per share for the current year.

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.