Janus Henderson Group PLC Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Janus Henderson Group PLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 622,064 shares of the software maker’s stock after selling 138,753 shares during the period. Janus Henderson Group PLC’s holdings in Intuit were worth $386,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. CWM LLC boosted its position in Intuit by 1.7% during the second quarter. CWM LLC now owns 16,683 shares of the software maker’s stock worth $10,964,000 after acquiring an additional 276 shares during the last quarter. Csenge Advisory Group boosted its position in Intuit by 16.6% during the second quarter. Csenge Advisory Group now owns 843 shares of the software maker’s stock worth $554,000 after acquiring an additional 120 shares during the last quarter. Guinness Asset Management LTD boosted its position in Intuit by 3.8% during the second quarter. Guinness Asset Management LTD now owns 62,346 shares of the software maker’s stock worth $40,967,000 after acquiring an additional 2,282 shares during the last quarter. Prentice Wealth Management LLC boosted its position in Intuit by 9.3% during the second quarter. Prentice Wealth Management LLC now owns 366 shares of the software maker’s stock worth $241,000 after acquiring an additional 31 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. boosted its position in Intuit by 6.6% during the second quarter. Tilia Fiduciary Partners Inc. now owns 2,920 shares of the software maker’s stock worth $1,919,000 after acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $636.02 on Wednesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm’s 50 day moving average price is $633.89 and its 200 day moving average price is $630.95. The company has a market cap of $178.03 billion, a P/E ratio of 61.75, a PEG ratio of 3.13 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INTU. Piper Sandler lowered their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,324 shares of company stock valued at $75,803,690. Insiders own 2.68% of the company’s stock.

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.