Bryce Point Capital LLC Invests $896,000 in Intuit Inc. (NASDAQ:INTU)

Bryce Point Capital LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,426 shares of the software maker's stock, valued at approximately $896,000.

Several other institutional investors and hedge funds also recently bought and sold shares of INTU. Norges Bank bought a new stake in shares of Intuit during the 4th quarter worth about $2,290,419,000. Proficio Capital Partners LLC raised its stake in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP lifted its position in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Intuit in the 4th quarter valued at $300,854,000. Finally, Vanguard Group Inc. boosted its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,862 shares of company stock worth $18,767,673 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

INTU has been the subject of a number of research analyst reports. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Jefferies Financial Group dropped their target price on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. StockNews.com cut Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, BMO Capital Markets reduced their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $718.00.

Intuit Stock Down 6.2 %

Shares of Intuit stock traded down $37.00 during trading on Friday, reaching $561.53. The stock had a trading volume of 3,334,095 shares, compared to its average volume of 1,542,889. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $595.64 and a two-hundred day moving average price of $620.96. The company has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, April 10th. Intuit's payout ratio is 38.81%.

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.