Jericho Capital Asset Management L.P. Invests $267.02 Million in Intuit Inc. $INTU

Jericho Capital Asset Management L.P. purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the third quarter, according to its most recent filing with the SEC. The fund purchased 391,000 shares of the software maker’s stock, valued at approximately $267,018,000. Intuit comprises 2.8% of Jericho Capital Asset Management L.P.’s portfolio, making the stock its 15th biggest position. Jericho Capital Asset Management L.P. owned approximately 0.14% of Intuit as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Tortoise Investment Management LLC increased its stake in Intuit by 540.0% during the second quarter. Tortoise Investment Management LLC now owns 32 shares of the software maker’s stock valued at $25,000 after purchasing an additional 27 shares during the last quarter. Sagard Holdings Management Inc. bought a new position in shares of Intuit in the 2nd quarter worth about $28,000. MTM Investment Management LLC lifted its position in shares of Intuit by 135.0% in the 3rd quarter. MTM Investment Management LLC now owns 47 shares of the software maker’s stock worth $32,000 after buying an additional 27 shares during the last quarter. Total Investment Management Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at about $33,000. Finally, Kilter Group LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank set a $575.00 price objective on shares of Intuit in a research note on Friday, March 6th. Royal Bank Of Canada cut their price target on Intuit from $850.00 to $600.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Oppenheimer reduced their price objective on Intuit from $696.00 to $558.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Rothschild & Co Redburn raised Intuit from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $670.00 to $700.00 in a report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Intuit from $850.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $634.26.

Insider Buying and Selling at Intuit

In related news, Director Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $673.43, for a total value of $50,507,250.00. Following the sale, the director directly owned 5,669,584 shares in the company, valued at $3,818,067,953.12. The trade was a 1.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard L. Dalzell sold 333 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $440.40, for a total transaction of $146,653.20. Following the sale, the director directly owned 13,253 shares of the company’s stock, valued at approximately $5,836,621.20. This represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 120,501 shares of company stock worth $79,983,892. Company insiders own 2.49% of the company’s stock.

Intuit Trading Up 1.1%

Shares of NASDAQ:INTU opened at $439.96 on Monday. The company has a 50 day moving average of $482.31 and a 200-day moving average of $599.82. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.28. The firm has a market cap of $121.67 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.77 and a beta of 1.27. Intuit Inc. has a twelve month low of $349.00 and a twelve month high of $813.70.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 26th. The software maker reported $4.15 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.47. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.53 billion. Intuit had a net margin of 21.57% and a return on equity of 24.23%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $3.32 earnings per share. Intuit has set its Q3 2026 guidance at 12.450-12.510 EPS and its FY 2026 guidance at 22.980-23.180 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 9th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, April 9th. Intuit’s dividend payout ratio is presently 31.09%.

Intuit Company 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.