Danske Bank A S Invests $60.60 Million in Intuit Inc. $INTU

Danske Bank A S bought a new position 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 and Exchange Commission. The institutional investor bought 232,184 shares of the software maker’s stock, valued at approximately $60,600,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Joseph Group Capital Management purchased a new position in Intuit in the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of Intuit in the 4th quarter worth about $25,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Intuit in the 3rd quarter worth approximately $33,000. Birchwood Financial Partners Inc. bought a new position in shares of Intuit in the 4th quarter worth about $33,000. Finally, Sankala Group LLC bought a new stake in shares of Intuit during the 4th quarter valued at about $40,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Richard L. Dalzell sold 284 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 11,758 shares in the company, valued at $3,084,358.56. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the purchase, the director directly owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. This trade represents a 40.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,239 shares of company stock valued at $348,354. Company insiders own 2.49% of the company’s stock.

Intuit Stock Performance

INTU stock opened at $350.41 on Wednesday. The company has a market capitalization of $95.85 billion, a P/E ratio of 21.22, a PEG ratio of 1.09 and a beta of 0.97. The company has a 50-day simple moving average of $294.02 and a 200 day simple moving average of $361.87. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $719.10. 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 (NASDAQ:INTU) last announced its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the prior year, the firm posted $11.65 EPS. Intuit’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Software-sector rotation supported INTU. A sharp selloff in AI hardware stocks redirected capital toward enterprise software companies, including Intuit, Monday.com and HubSpot. Investors may be reassessing the durability and valuation of software businesses after their recent weakness, although the article cautions that the move could be a short-term trading rotation. Software Stocks Soar in Rotational Trade
• Positive Sentiment: Growth and AI initiatives remain part of the bullish case. Coverage highlighted Intuit’s expansion of AI-native enterprise resource planning tools and the launch of Intuit Intelligence. Analysts and financial commentary also point to growth in advanced products, a potentially large mid-market opportunity and expectations for earnings growth. Intuit’s latest reported quarter included revenue growth of 10.4% year over year and an EPS beat.
• Positive Sentiment: Mizuho retained a favorable view despite reducing its target. Mizuho lowered its price target from $500 to $430 but maintained an “outperform” rating, signaling that the firm still sees meaningful upside after becoming more conservative on valuation or growth assumptions.

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. UBS Group reiterated a “neutral” rating on shares of Intuit in a research note on Tuesday. Susquehanna decreased their target price on Intuit from $550.00 to $427.00 and set a “positive” rating for the company in a research note on Monday, July 20th. Evercore reaffirmed an “outperform” rating on shares of Intuit in a report on Tuesday. Jefferies Financial Group dropped their price target on Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Finally, TD Cowen reissued a “buy” rating on shares of Intuit in a report on Tuesday. Twenty research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $454.65.

About Intuit

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.