Allspring Global Investments Holdings LLC Has $10.71 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Allspring Global Investments Holdings LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,204 shares of the software maker's stock after selling 1,898 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Intuit were worth $10,714,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit during the 4th quarter valued at about $621,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. Retireful LLC bought a new position in shares of Intuit during the 3rd quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit during the 3rd quarter valued at about $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ INTU traded down $13.61 on Friday, reaching $565.47. The stock had a trading volume of 2,006,121 shares, compared to its average volume of 1,766,552. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a fifty day moving average of $614.05 and a two-hundred day moving average of $628.50. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market cap of $158.29 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 2.87 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm posted $1.14 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company's stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average target price of $726.53.

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.