Cubist Systematic Strategies LLC Lowers Stake in Intuit Inc. (INTU)

Cubist Systematic Strategies LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 68.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,063 shares of the software maker’s stock after selling 6,634 shares during the period. Cubist Systematic Strategies LLC’s holdings in Intuit were worth $531,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Intuit by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 3,020,966 shares of the software maker’s stock worth $475,804,000 after buying an additional 167,550 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Intuit by 8.8% during the first quarter. OppenheimerFunds Inc. now owns 2,958,604 shares of the software maker’s stock worth $512,874,000 after buying an additional 239,143 shares during the period. Lindsell Train Ltd lifted its stake in shares of Intuit by 2.8% during the first quarter. Lindsell Train Ltd now owns 2,458,200 shares of the software maker’s stock worth $426,129,000 after buying an additional 67,400 shares during the period. Franklin Resources Inc. lifted its stake in shares of Intuit by 0.4% during the first quarter. Franklin Resources Inc. now owns 1,426,661 shares of the software maker’s stock worth $247,311,000 after buying an additional 5,026 shares during the period. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in shares of Intuit by 11.2% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,394,355 shares of the software maker’s stock worth $241,711,000 after buying an additional 140,202 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

In other Intuit news, EVP Henry Tayloe Stansbury sold 3,941 shares of Intuit stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $195.50, for a total value of $770,465.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark J. Flournoy sold 5,513 shares of Intuit stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $197.16, for a total transaction of $1,086,943.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,277 shares of company stock valued at $65,648,052. 5.59% of the stock is currently owned by corporate insiders.

Shares of Intuit stock opened at $204.31 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 1.05. Intuit Inc. has a 1 year low of $130.26 and a 1 year high of $216.63. The firm has a market cap of $50.86 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 2.75 and a beta of 1.16.

Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, May 22nd. The software maker reported $4.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.68 by $0.14. Intuit had a net margin of 20.39% and a return on equity of 79.36%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company posted $3.90 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. equities analysts anticipate that Intuit Inc. will post 4.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 18th. Investors of record on Tuesday, July 10th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, July 9th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Intuit’s dividend payout ratio (DPR) is presently 41.38%.

Several research firms have recently commented on INTU. BidaskClub downgraded shares of Intuit from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus upgraded shares of Intuit from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $197.00 to $240.00 in a research note on Monday, June 18th. Bank of America lifted their price objective on shares of Intuit from $204.00 to $227.00 and gave the stock a “buy” rating in a research note on Monday, June 11th. Argus lifted their price objective on shares of Intuit to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 24th. Finally, Oppenheimer lifted their price objective on shares of Intuit from $181.00 to $206.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $195.82.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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