Exxonmobil Investment Management Inc Tx Lowers stake in Intuit (INTU)

Intuit (INTU) : Exxonmobil Investment Management Inc Tx reduced its stake in Intuit by 5.53% during the most recent quarter end. The investment management company now holds a total of 62,568 shares of Intuit which is valued at $6,722,932 after selling 3,664 shares in Intuit , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Intuit makes up approximately 0.14% of Exxonmobil Investment Management Inc Tx’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in INTU in the latest quarter, The investment management firm added 291 additional shares and now holds a total of 5,704 shares of Intuit which is valued at $612,895. Intuit makes up approx 0.12% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in INTU in the latest quarter, The investment management firm added 116,626 additional shares and now holds a total of 211,157 shares of Intuit which is valued at $22,933,762. Intuit makes up approx 0.09% of Bnp Paribas Arbitrage Sa’s portfolio.North Star Asset Management Inc reduced its stake in INTU by selling 1,590 shares or 2.58% in the most recent quarter. The Hedge Fund company now holds 60,045 shares of INTU which is valued at $6,521,487. Intuit makes up approx 0.73% of North Star Asset Management Inc’s portfolio.Bath Savings Trust Co reduced its stake in INTU by selling 440 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 61,433 shares of INTU which is valued at $6,672,238. Intuit makes up approx 2.10% of Bath Savings Trust Co’s portfolio.Cullinan Associates Inc boosted its stake in INTU in the latest quarter, The investment management firm added 4,000 additional shares and now holds a total of 15,150 shares of Intuit which is valued at $1,645,442. Intuit makes up approx 0.14% of Cullinan Associates Inc’s portfolio.

Intuit closed down -1.39 points or -1.28% at $107.45 with 15,24,274 shares getting traded on Friday. Post opening the session at $109, the shares hit an intraday low of $106.93 and an intraday high of $109 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Intuit reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $-0.02. The company had revenue of $754.00 million for the quarter, compared to analysts expectations of $735.35 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Many Wall Street Analysts have commented on Intuit. Intuit was Downgraded by Morgan Stanley to ” Underweight” on Sep 13, 2016. Shares were Reiterated by RBC Capital Mkts on Aug 24, 2016 to “Sector Perform” and Lowered the Price Target to $ 108 from a previous price target of $113 .Company shares were Reiterated by Deutsche Bank on Aug 24, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .

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 Professional Tax. The Company operates in the United States Canada India the United Kingdom Singapore and Australia among others. The Company’s Small Business segment solutions include QuickBooks Online Online Payroll solutions Online Payments solutions and Intuit Developer Group. The Company’s Small Business Desktop Ecosystem solutions include QuickBooks Desktop Payroll Solutions Desktop Payments solutions QuickBooks Technical Support and financial supplies. The Consumer Tax segment offers tax return preparation offerings electronic filing and other services and Intuit Tax Freedom Project. The Company’s professional tax offerings include Lacerte and ProSeries.

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