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

Pinnacle Financial Partners Inc increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,166 shares of the software maker’s stock after purchasing an additional 515 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Intuit were worth $10,789,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Holocene Advisors LP grew its holdings in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Nordea Investment Management AB grew its holdings in Intuit by 83.2% during the 4th 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 last quarter. State Street Corp grew its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Intuit during the 4th quarter worth approximately $104,278,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Intuit by 85.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock worth $222,836,000 after acquiring an additional 165,805 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

INTU opened at $565.47 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average price is $612.23 and its two-hundred day moving average price is $628.35. 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 $158.28 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released 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 firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity

In other news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last quarter. Insiders own 2.68% of the company’s stock.

Intuit Company 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.