New York State Teachers Retirement System Boosts Holdings in Intuit Inc. $INTU

New York State Teachers Retirement System boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 236,462 shares of the software maker’s stock after buying an additional 7,784 shares during the quarter. New York State Teachers Retirement System’s holdings in Intuit were worth $102,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Joseph Group Capital Management bought a new position in Intuit in the 4th quarter worth $25,000. Intesa Sanpaolo Wealth Management bought a new stake in Intuit during the fourth quarter valued at about $25,000. HHM Wealth Advisors LLC grew its holdings in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock valued at $30,000 after purchasing an additional 30 shares during the period. CrossGen Wealth LLC purchased a new stake in Intuit in the first quarter worth about $32,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Intuit in the third quarter worth about $33,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INTU. UBS Group lowered their price objective on Intuit from $440.00 to $360.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. Truist Financial reduced their target price on shares of Intuit from $500.00 to $410.00 and set a “buy” rating for the company in a report on Thursday, May 21st. HSBC decreased their target price on shares of Intuit from $897.00 to $707.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Erste Group Bank raised shares of Intuit to a “hold” rating in a report on Monday, April 27th. Finally, Rothschild & Co Redburn dropped their price target on shares of Intuit from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, June 2nd. Twenty-two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $498.40.

Intuit Stock Up 3.1%

INTU opened at $275.35 on Friday. The company has a market capitalization of $75.32 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The firm has a 50-day simple moving average of $328.50 and a two-hundred day simple moving average of $434.87. 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 Inc. has a 52 week low of $252.84 and a 52 week high of $813.70.

Intuit (NASDAQ:INTU) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.54 billion. During the same period in the previous year, the firm posted $11.65 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Analysts forecast that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, July 9th. Intuit’s dividend payout ratio is currently 29.07%.

Key Headlines Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit is being highlighted as one of the best SaaS stocks to buy, with 76% of analysts rating it a Buy and a consensus price target well above the current share price. Is Intuit (INTU) One of the Best SaaS Stocks to Buy According to Reddit?
• Positive Sentiment: Zacks described Intuit as a top-ranked growth stock, which may be encouraging growth-oriented investors to rotate into the shares. Intuit (INTU) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: For broader context, Intuit recently reported solid quarterly results with earnings and revenue slightly ahead of expectations, which continues to support the bullish thesis.
• Negative Sentiment: Investors are also watching a securities-fraud investigation tied to pricing issues, which could keep sentiment cautious and limit further upside. INTU Investigation Notification: Intuit is being Investigated for Securities Fraud Following Pricing Issues

Insider Buying and Selling

In related news, Director Richard L. Dalzell sold 338 shares of the firm’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 directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 1,250 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $309.45 per share, for a total transaction of $386,812.50. Following the purchase, the director owned 1,250 shares of the company’s stock, valued at $386,812.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,239 shares of company stock valued at $348,354 over the last quarter. Corporate 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.