Atria Wealth Solutions Inc. Sells 1,585 Shares of Intuit Inc. (NASDAQ:INTU)

Atria Wealth Solutions Inc. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 22.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,519 shares of the software maker’s stock after selling 1,585 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Intuit were worth $3,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. acquired a new position in shares of Intuit in the fourth quarter valued at about $25,000. West Branch Capital LLC increased its holdings in shares of Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the period. MCF Advisors LLC raised its position in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the second quarter valued at approximately $35,000. Finally, Sachetta LLC acquired a new stake in Intuit during the fourth quarter worth approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. UBS Group increased their price target on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Finally, KeyCorp boosted their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $691.77.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 14,748 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the completion of the sale, the insider now owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the sale, the chief financial officer now owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The disclosure for this sale can be found here. Insiders sold a total of 195,963 shares of company stock valued at $114,442,445 in the last three months. Insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.5 %

NASDAQ INTU traded up $3.21 during trading hours on Wednesday, reaching $670.49. The company’s stock had a trading volume of 1,255,620 shares, compared to its average volume of 1,315,294. The firm has a fifty day simple moving average of $637.37 and a 200-day simple moving average of $634.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The stock has a market cap of $187.43 billion, a P/E ratio of 61.85, a P/E/G ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm earned $7.80 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

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.