Zions Bancorporation N.A. Acquires 2,338 Shares of Intuit Inc. (NASDAQ:INTU)

Zions Bancorporation N.A. increased its holdings in Intuit Inc. (NASDAQ:INTU) by 40.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,099 shares of the software maker’s stock after buying an additional 2,338 shares during the period. Zions Bancorporation N.A.’s holdings in Intuit were worth $5,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. FineMark National Bank & Trust lifted its position in shares of Intuit by 1.8% during the fourth quarter. FineMark National Bank & Trust now owns 1,509 shares of the software maker’s stock valued at $948,000 after buying an additional 27 shares during the last quarter. Ashton Thomas Securities LLC lifted its position in Intuit by 2.6% during the fourth quarter. Ashton Thomas Securities LLC now owns 1,558 shares of the software maker’s stock valued at $979,000 after acquiring an additional 40 shares during the last quarter. Modern Wealth Management LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $249,000. CoreFirst Bank & Trust acquired a new stake in Intuit in the fourth quarter valued at approximately $529,000. Finally, Zevenbergen Capital Investments LLC increased its position in shares of Intuit by 7.3% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 26,211 shares of the software maker’s stock worth $16,474,000 after purchasing an additional 1,790 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,733 shares of company stock worth $77,947,205. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $613.09 on Tuesday. The firm has a market capitalization of $171.40 billion, a P/E ratio of 59.52, a PEG ratio of 2.85 and a beta of 1.27. The stock has a 50-day simple moving average of $596.08 and a two-hundred day simple moving average of $622.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

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.