Haverford Trust Co Buys Shares of 45,923 Intuit Inc. $INTU

Haverford Trust Co purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 45,923 shares of the software maker’s stock, valued at approximately $11,986,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Joseph Group Capital Management acquired a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. MidFirst Bank acquired a new stake in Intuit during the 2nd quarter worth approximately $28,000. HHM Wealth Advisors LLC grew its holdings in Intuit by 75.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after acquiring an additional 30 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in Intuit during the 1st quarter worth approximately $30,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. Barclays dropped their price target on shares of Intuit from $540.00 to $443.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Wall Street Zen downgraded Intuit from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. BMO Capital Markets lowered their target price on Intuit from $550.00 to $412.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. Piper Sandler reaffirmed an “underweight” rating and set a $250.00 target price on shares of Intuit in a report on Wednesday. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $400.00 target price on shares of Intuit in a report on Thursday, May 21st. Twenty analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $451.26.

Key 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

Intuit Stock Up 1.4%

Shares of NASDAQ:INTU opened at $367.00 on Friday. The company has a market capitalization of $100.39 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The business’s 50-day moving average is $299.09 and its 200-day moving average is $359.96. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $705.08.

Intuit (NASDAQ:INTU) last announced its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, beating the consensus estimate of $12.57 by $0.23. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.65 EPS. Equities research analysts predict that Intuit Inc. will post 18.19 earnings per share for the current year.

Insider Activity at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of Intuit 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 sale, the director owned 12,326 shares in the company, valued at $3,449,554.36. The trade was a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of the company’s 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 transaction, the director directly owned 1,750 shares in the company, valued at $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 three months, insiders sold 1,239 shares of company stock worth $348,354. Insiders own 2.49% of the company’s stock.

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.