Intuit Inc. (INTU) is Quantbot Technologies LP’s Largest Position

Quantbot Technologies LP trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 32.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,785 shares of the software maker’s stock after selling 54,915 shares during the period. Intuit makes up 1.5% of Quantbot Technologies LP’s investment portfolio, making the stock its largest holding. Quantbot Technologies LP’s holdings in Intuit were worth $15,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its position in Intuit by 1,542.9% during the 1st quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after purchasing an additional 16,306,976 shares during the last quarter. Vanguard Group Inc. grew its position in Intuit by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Intuit by 7.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares during the last quarter. Morgan Stanley grew its position in Intuit by 38.5% during the 1st quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after purchasing an additional 966,936 shares during the last quarter. Finally, Janus Capital Management LLC grew its position in Intuit by 5.4% during the 1st quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after purchasing an additional 138,184 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio is currently 36.56%.

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In related news, EVP Sasan K. Goodarzi sold 16,207 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $141.41, for a total value of $2,291,831.87. Following the completion of the transaction, the executive vice president now owns 5,785 shares in the company, valued at approximately $818,056.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Scott D. Cook sold 182,037 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $135.20, for a total transaction of $24,611,402.40. The disclosure for this sale can be found here. Insiders sold a total of 872,901 shares of company stock valued at $120,440,104 in the last quarter. 5.70% of the stock is currently owned by insiders.

Several brokerages have issued reports on INTU. Argus began coverage on shares of Intuit in a research report on Wednesday. They set a “buy” rating and a $165.00 price objective on the stock. Wells Fargo & Company raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price objective on the stock in a research report on Thursday. William Blair began coverage on shares of Intuit in a research report on Tuesday. They set an “outperform” rating on the stock. Moffett Nathanson began coverage on shares of Intuit in a research report on Thursday, September 7th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $148.00 to $141.00 in a research report on Monday, June 26th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Intuit presently has a consensus rating of “Buy” and a consensus target price of $142.74.

About Intuit

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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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