Quantbot Technologies LP Takes $9.80 Million Position in Intuit Inc. $INTU

Quantbot Technologies LP purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, HoldingsChannel reports. The firm purchased 37,550 shares of the software maker’s stock, valued at approximately $9,801,000.

Other institutional investors also recently modified their holdings of the company. Evolve Private Wealth LLC acquired a new stake in Intuit in the second quarter valued at $422,000. W1M Asset Management Ltd acquired a new position in Intuit in the second quarter valued at $487,000. Varma Mutual Pension Insurance Co acquired a new position in shares of Intuit in the 2nd quarter valued at about $13,300,000. XXEC Inc. bought a new stake in shares of Intuit during the 2nd quarter valued at about $436,740,000. Finally, Westpac Banking Corp bought a new position in shares of Intuit during the 2nd quarter worth approximately $6,238,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 338 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $309.71 per share, for a total transaction of $154,855.00. Following the acquisition, the director owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. This trade represents a 40.00% increase in their position. 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 valued at $348,354. Insiders own 2.49% of the company’s stock.

Intuit Trading Up 1.4%

Shares of Intuit stock opened at $367.00 on Friday. The company’s 50-day moving average price is $299.09 and its 200-day moving average price is $359.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26. Intuit Inc. has a 12-month low of $252.84 and a 12-month high of $705.08. The company has a market cap of $100.39 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.15 and a beta of 0.97.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. Intuit’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $11.65 earnings per share. On average, equities analysts expect that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on INTU. Mizuho cut their price objective on shares of Intuit from $500.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, August 17th. Truist Financial reiterated a “hold” rating and issued a $350.00 target price (down from $410.00) on shares of Intuit in a research note on Monday, August 3rd. Rothschild & Co Redburn reduced their target price on Intuit from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Wells Fargo & Company decreased their price objective on shares of Intuit from $425.00 to $360.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Finally, KeyCorp lowered their target price on Intuit from $520.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Twenty equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $451.26.

Key Headlines Impacting Intuit

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

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.