Quantbot Technologies LP Makes New Investment in Intuit Inc. $INTU

Quantbot Technologies LP acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 37,550 shares of the software maker’s stock, valued at approximately $9,801,000.

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

More Intuit News

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Intuit from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $519.00 to $276.00 in a research note on Tuesday, June 2nd. Mizuho reduced their target price on Intuit from $500.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, August 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $275.00 price target (down from $375.00) on shares of Intuit in a research note on Wednesday, June 17th. Barclays lowered their price target on Intuit from $540.00 to $443.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Finally, Weiss Ratings downgraded Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. Twenty investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $451.26.

Insiders Place Their Bets

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of the transaction, the director owned 12,326 shares of the company’s stock, valued at $3,449,554.36. This represents a 2.67% decrease in their position. The sale 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 bought 500 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $309.71 per share, with a total value of $154,855.00. Following the completion of the transaction, the director directly owned 1,750 shares of the company’s stock, valued at approximately $541,992.50. The trade was a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 1,239 shares of company stock valued at $348,354 over the last quarter. 2.49% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $367.00 on Friday. Intuit Inc. has a one year low of $252.84 and a one year high of $705.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. 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. The firm has a 50 day simple moving average of $299.09 and a 200 day simple moving average of $359.96.

Intuit (NASDAQ:INTU) last posted its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. The firm had revenue of $8.56 billion for 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%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.65 earnings per share. Research analysts predict that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Company Profile

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.