Independent Advisor Alliance Buys 117 Shares of Intuit Inc. (NASDAQ:INTU)

Independent Advisor Alliance boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,531 shares of the software maker’s stock after acquiring an additional 117 shares during the period. Independent Advisor Alliance’s holdings in Intuit were worth $5,298,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth about $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 862 shares of the company’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 owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 18.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock valued at $35,200,125 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Intuit Price Performance

INTU opened at $640.12 on Monday. 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 business has a fifty day moving average of $634.81 and a 200 day moving average of $631.19. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market cap of $179.26 billion, a P/E ratio of 62.15, a PEG ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.05 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on INTU shares. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

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.