Intuit Inc. (NASDAQ:INTU) Position Reduced by Allstate Corp

Allstate Corp decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 14.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889 shares of the software maker’s stock after selling 150 shares during the period. Allstate Corp’s holdings in Intuit were worth $556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. V Square Quantitative Management LLC grew its position in Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after purchasing an additional 482 shares in the last quarter. Maryland State Retirement & Pension System grew its position in Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after purchasing an additional 226 shares in the last quarter. Glenmede Trust Co. NA grew its position in Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after purchasing an additional 2,074 shares in the last quarter. Hixon Zuercher LLC purchased a new position in Intuit during the 4th quarter worth approximately $1,292,000. Finally, Signature Wealth Management Group purchased a new position in Intuit during the 4th quarter worth approximately $1,747,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock traded down $1.72 during trading hours on Thursday, hitting $668.55. 608,788 shares of the stock were exchanged, compared to its average volume of 1,197,086. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $187.19 billion, a P/E ratio of 68.39, a P/E/G ratio of 4.07 and a beta of 1.22. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $676.62. The business’s 50-day moving average is $634.72 and its two-hundred day moving average is $619.64.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 11.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INTU has been the topic of several research analyst reports. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Oppenheimer boosted their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Susquehanna upped their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. UBS Group upped their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $666.59.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 over the last three months. 2.90% of the stock is owned by insiders.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.