Intuit Inc (NASDAQ:INTU) said Monday it plans to significantly accelerate its share repurchase program, while the company’s founder and executive leadership team have canceled previously scheduled stock sale plans.
The financial software provider stated it intends to deploy up to $3.5 billion remaining under its current buyback authorization as of the end of the second quarter of fiscal 2026, which concluded on January 31. At current market conditions, using the remaining authorization would roughly double the pace of share repurchases seen in the first half of the fiscal year and nearly double total annual buybacks compared with the previous year.
During the first half of fiscal 2026, Intuit repurchased $1.8 billion worth of its shares, representing a 40% increase from the same period last year. The company previously outlined the expanded repurchase strategy in its second-quarter Form 10-Q filing submitted on February 26.
At the same time, Intuit’s founder and executive leadership team terminated all active pre-arranged stock sale plans established under Rule 10b5-1. Management indicated that the company believes its current share price does not accurately reflect the underlying value of the business.
If the company completes the remaining buybacks along with its planned dividend payments, Intuit expects a notable increase in total capital returned to shareholders during fiscal 2026.
“In our category, consumers and businesses make high-stakes financial decisions where accuracy, compliance, security, and trust are critical and the liability of getting it wrong is high. That’s why customers demand human expertise – customers buy confidence, not code, hence spend at least seven times more on accounting & tax human experts than software. Our AI-driven expert platform combines the power of technology and AI-powered human experts all in one place to deliver done-for-you experiences and complete confidence,” said Sasan Goodarzi, chairman and chief executive officer of Intuit.
Goodarzi added, “With the combination of data, AI, and human intelligence, we are expanding our addressable market beyond the software category and becoming the AI-fueled human interface that customers demand to have complete confidence, all while scaling ARPC and expanding margin, resulting in accelerated growth.”