Bryce Point Capital LLC Buys New Shares in Intuit Inc. (NASDAQ:INTU)

Bryce Point Capital LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,426 shares of the software maker’s stock, valued at approximately $896,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd bought a new stake in Intuit in the fourth quarter worth approximately $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the fourth quarter worth $28,000. Finally, Summit Securities Group LLC acquired a new stake in Intuit in the fourth quarter worth $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INTU. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,334 shares of company stock valued at $19,064,325. Company insiders own 2.68% of the company’s stock.

Intuit Stock Up 1.2 %

Shares of NASDAQ:INTU opened at $620.91 on Thursday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a market capitalization of $173.58 billion, a PE ratio of 60.28, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a fifty day moving average price of $596.37 and a two-hundred day moving average price of $621.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

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.