Two Point Capital Management Inc. Sells 343 Shares of Intuit Inc. (NASDAQ:INTU)

Two Point Capital Management Inc. decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 10,452 shares of the software maker’s stock after selling 343 shares during the quarter. Intuit comprises approximately 3.0% of Two Point Capital Management Inc.’s holdings, making the stock its 16th largest position. Two Point Capital Management Inc.’s holdings in Intuit were worth $6,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewSquare Capital LLC acquired a new position in shares of Intuit in the 3rd quarter worth approximately $25,000. Cape Investment Advisory Inc. bought a new stake in Intuit during the third quarter valued at $26,000. MCF Advisors LLC lifted its stake in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Steward Financial Group LLC grew its stake in Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the period. Finally, Aspire Private Capital LLC increased its holdings in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 in the last 90 days. 2.90% of the stock is owned by company insiders.

Intuit Price Performance

Shares of NASDAQ INTU traded up $13.15 during mid-day trading on Friday, reaching $639.54. 766,097 shares of the company were exchanged, compared to its average volume of 1,243,321. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $179.07 billion, a PE ratio of 64.88, a PEG ratio of 3.87 and a beta of 1.21. The company’s 50 day moving average price is $640.64 and its 200 day moving average price is $602.03.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Sell-side analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is presently 36.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Piper Sandler increased their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Susquehanna increased their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

About Intuit

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.