34,854 Shares in Intuit Inc. $INTU Purchased by Cibc World Market Inc.

Cibc World Market Inc. acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 34,854 shares of the software maker’s stock, valued at approximately $9,097,000.

Several other hedge funds have also recently modified their holdings of the company. XXEC Inc. purchased a new position in shares of Intuit in the 2nd quarter worth approximately $436,740,000. BlackRock Inc. purchased a new stake in shares of Intuit during the second quarter valued at approximately $6,851,859,000. Norges Bank bought a new stake in Intuit during the fourth quarter worth $3,058,407,000. Bank of New York Mellon Corp bought a new stake in Intuit during the second quarter worth $564,592,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Intuit by 102.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock worth $1,684,795,000 after purchasing an additional 1,972,719 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $369.92 on Tuesday. The company has a market capitalization of $101.19 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.15 and a beta of 0.97. The business has a fifty day simple moving average of $300.85 and a two-hundred day simple moving average of $358.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $705.08.

Analyst Ratings Changes

A number of research analysts have issued reports on INTU shares. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $580.00 to $335.00 in a research note on Tuesday, July 21st. Oppenheimer lowered their target price on Intuit from $558.00 to $406.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. BMO Capital Markets cut their price target on shares of Intuit from $550.00 to $412.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Northcoast Research reduced their price target on shares of Intuit from $575.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Finally, Wall Street Zen downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Twenty equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $449.65.

Insider Buying and Selling at Intuit

In related news, Director Richard L. Dalzell sold 338 shares of Intuit stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of the sale, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 worth $348,354. 2.49% of the stock is currently owned by corporate insiders.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Analysts expect fiscal fourth-quarter revenue and earnings-per-share growth, with consensus EPS near $3.58–$3.59, compared with $2.75 a year earlier. Strength in QuickBooks, Credit Karma and AI-related offerings could support the stock if Intuit meets or exceeds expectations. Intuit to Report Q4 Earnings: What Should Investors Do?
• Positive Sentiment: Some commentary describes INTU as potentially undervalued after its steep one-year decline. Bulls argue that new conversational-AI capabilities and the company’s recurring software ecosystem could help restore revenue and profit growth. Intuit Stock Could Be A Bargain After A 44% Fall
• Neutral Sentiment: The options market is pricing a roughly 9% potential post-earnings move, indicating unusually high near-term volatility. The market’s reaction is likely to depend more on forward guidance and AI adoption trends than on the quarterly numbers alone. Intuit Options Market Prices a 9% Swing Ahead of Earnings
• Negative Sentiment: Jefferies lowered its price target to $500 from $550, warning that the earnings bar may still be difficult to clear despite reduced expectations. Concerns include slowing TurboTax momentum and the possibility that generative AI could weaken Intuit’s competitive advantage. Jefferies Cuts Intuit Price Target
• Negative Sentiment: Multiple law firms promoted a securities class action and a September 8 lead-plaintiff deadline. The allegations focus on whether Intuit overstated AI-driven growth and the strength of its tax-related business. These are allegations, not proven findings, but the litigation creates an additional overhang for investors. Rosen Intuit Securities Class Action Deadline

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.