Pinnacle Financial Partners Inc Has $10.79 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Pinnacle Financial Partners Inc grew its position in Intuit Inc. (NASDAQ:INTU) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,166 shares of the software maker’s stock after purchasing an additional 515 shares during the period. Pinnacle Financial Partners Inc’s holdings in Intuit were worth $10,789,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new stake in shares of Intuit during the fourth quarter worth $621,000. Harvest Portfolios Group Inc. raised its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC acquired a new stake in shares of Intuit during the third quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit during the third quarter worth $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INTU has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday. They set a “neutral” rating on the stock. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of Intuit stock opened at $565.47 on Friday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $612.23 and a two-hundred day simple moving average of $628.35. The stock has a market capitalization of $158.28 billion, a price-to-earnings ratio of 54.90, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

About Intuit

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.