Quantitative Investment Management LLC Has $27.13 Million Position in Intuit Inc. (INTU)
Quantitative Investment Management LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 204,300 shares of the software maker’s stock after selling 18,400 shares during the period. Quantitative Investment Management LLC owned about 0.08% of Intuit worth $27,133,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in INTU. TD Asset Management Inc. lifted its holdings in Intuit by 70.4% during the 1st quarter. TD Asset Management Inc. now owns 294,791 shares of the software maker’s stock valued at $34,193,000 after purchasing an additional 121,816 shares during the last quarter. Ardevora Asset Management LLP lifted its holdings in Intuit by 0.7% during the 1st quarter. Ardevora Asset Management LLP now owns 190,600 shares of the software maker’s stock valued at $22,108,000 after purchasing an additional 1,300 shares during the last quarter. Wedbush Securities Inc. bought a new position in Intuit during the 1st quarter valued at about $308,000. Neuburgh Advisers LLC lifted its holdings in Intuit by 39.0% during the 1st quarter. Neuburgh Advisers LLC now owns 11,628 shares of the software maker’s stock valued at $1,349,000 after purchasing an additional 3,264 shares during the last quarter. Finally, Pax World Management LLC bought a new position in Intuit during the 1st quarter valued at about $205,000. 85.96% of the stock is owned by hedge funds and other institutional investors.
Intuit Inc. (NASDAQ:INTU) traded up 1.04% during midday trading on Tuesday, hitting $145.30. 502,743 shares of the company were exchanged. The stock has a market capitalization of $37.05 billion, a PE ratio of 39.06 and a beta of 1.15. Intuit Inc. has a one year low of $103.22 and a one year high of $146.04. The firm’s 50-day moving average price is $138.61 and its 200-day moving average price is $131.40.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $842.00 million during the quarter, compared to analyst estimates of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS. Equities research analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is 36.56%.
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Several brokerages recently issued reports on INTU. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and cut their price target for the company from $148.00 to $141.00 in a report on Monday, June 26th. Credit Suisse Group boosted their target price on shares of Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Stifel Nicolaus boosted their target price on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, May 24th. William Blair started coverage on shares of Intuit in a research note on Tuesday. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada boosted their target price on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 24th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $140.24.
In related news, CFO R Neil Williams sold 184,585 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $141.11, for a total value of $26,046,789.35. Following the completion of the transaction, the chief financial officer now owns 64,620 shares in the company, valued at approximately $9,118,528.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sasan K. Goodarzi sold 16,207 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $141.41, for a total transaction of $2,291,831.87. Following the completion of the transaction, the executive vice president now owns 5,785 shares of the company’s stock, valued at approximately $818,056.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 888,585 shares of company stock valued at $122,643,706. 5.70% of the stock is owned by company insiders.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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