Zions Bancorporation N.A. Acquires 170 Shares of Intuit Inc. (NASDAQ:INTU)

Zions Bancorporation N.A. increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 5,761 shares of the software maker’s stock after purchasing an additional 170 shares during the quarter. Zions Bancorporation N.A.’s holdings in Intuit were worth $3,578,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Koshinski Asset Management Inc. grew its stake in shares of Intuit by 33.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,094 shares of the software maker’s stock valued at $711,000 after acquiring an additional 277 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Intuit by 6.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,222 shares of the software maker’s stock valued at $795,000 after purchasing an additional 75 shares during the period. Leo Wealth LLC lifted its stake in shares of Intuit by 9.1% during the 1st quarter. Leo Wealth LLC now owns 349 shares of the software maker’s stock valued at $227,000 after buying an additional 29 shares in the last quarter. Trillium Asset Management LLC boosted its holdings in Intuit by 58.3% in the 1st quarter. Trillium Asset Management LLC now owns 1,445 shares of the software maker’s stock worth $939,000 after buying an additional 532 shares during the period. Finally, Brighton Jones LLC increased its stake in Intuit by 30.8% in the 1st quarter. Brighton Jones LLC now owns 3,606 shares of the software maker’s stock worth $2,344,000 after buying an additional 849 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INTU shares. Barclays dropped their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Up 1.0 %

Shares of INTU opened at $706.25 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $197.95 billion, a price-to-earnings ratio of 67.58, a PEG ratio of 3.42 and a beta of 1.25. The company has a 50-day moving average of $630.03 and a 200 day moving average of $629.21. Intuit Inc. has a 1-year low of $541.40 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.40 EPS. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. On average, research analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.59%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

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.