Intuit Sees Mixed Institutional Moves as M&G Trims Stake Ahead of Earnings
M&G PLC reduced its Intuit Inc. position during the third quarter, part of a wider wave of mixed institutional activity ahead of upcoming earnings.
Several institutional investment managers recently disclosed changes to their holdings in Intuit Inc. In its latest regulatory filing, M&G PLC reported cutting its position by 3.8% during the third quarter. The fund offloaded 16,596 shares, leaving it with 418,622 shares valued at $115,540,000 at quarter-end.
The adjustment follows similar third-quarter moves by other investment firms. Parallel Advisors LLC lowered its stake by 12.7% by selling 3,253 shares, Lyell Wealth Management LP reduced its holdings by 36.3% after shedding 7,937 shares, and Summit Global Investments trimmed its position by 54.8% through the sale of 3,139 shares. Conversely, institutions such as Retirement Systems of Alabama, Fulcrum Asset Management LLP, and Running Oak Capital LLC substantially increased their positions during the same quarter. Institutional holders and hedge funds collectively control 83.66% of the company's equity.
Intuit recently expanded its Intuit Intelligence platform, introducing new automation tools across QuickBooks, Intuit Enterprise Suite, and Intuit Accountant Suite. The business also introduced Credit Karma Tax featuring free federal filing before the upcoming tax season and arranged a planned purchase of Sequence to enhance mid-market billing workflows. Investors will next evaluate execution when the software provider releases its fiscal first-quarter 2027 financial results after the market closes on November 19.
The company's prior quarter featured earnings of $4.03 per share, surpassing analyst projections of $3.58. Revenue climbed 13.7% year over year to reach $4.35 billion. Management established fiscal first-quarter 2027 guidance between 2.440 and 2.480 EPS and projected full-year fiscal 2027 earnings at 22.880 to 23.120 EPS, with full-year revenue anticipated to grow roughly 9% to 10%. Intuit also raised its quarterly dividend from $1.20 to $1.38 per share, which was paid on Friday, October 16th.
Wall Street equity analysts currently hold a mixed outlook on the software company. According to data tracked by MarketBeat, 16 analysts rate the stock as a Buy, 13 recommend a Hold, and two assign a Sell rating, producing an overall consensus rating of Hold. The average price target compiled by MarketBeat sits between $431.55 and $431.68.