Two Point Capital Management Inc. Buys 77 Shares of Intuit Inc. (NASDAQ:INTU)

Two Point Capital Management Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,719 shares of the software maker’s stock after purchasing an additional 77 shares during the period. Intuit comprises approximately 2.4% of Two Point Capital Management Inc.’s holdings, making the stock its 21st largest position. Two Point Capital Management Inc.’s holdings in Intuit were worth $6,656,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Bank of America increased their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Up 4.8 %

INTU stock opened at $648.39 on Thursday. Intuit Inc. has a 52 week low of $506.97 and a 52 week high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $623.43 and a 200-day simple moving average of $626.96. The stock has a market capitalization of $181.74 billion, a P/E ratio of 62.05, a P/E/G ratio of 3.03 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Equities analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. Intuit’s dividend payout ratio is presently 39.81%.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last three months. Insiders own 2.90% of the company’s stock.

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.