Calamos Advisors LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Calamos Advisors LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,977 shares of the software maker’s stock after buying an additional 8,312 shares during the period. Calamos Advisors LLC’s holdings in Intuit were worth $51,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cohen Investment Advisors LLC increased its stake in Intuit by 13.2% during the first quarter. Cohen Investment Advisors LLC now owns 6,642 shares of the software maker’s stock worth $4,078,000 after purchasing an additional 773 shares during the period. Checchi Capital Advisers LLC increased its stake in Intuit by 2.9% during the first quarter. Checchi Capital Advisers LLC now owns 4,477 shares of the software maker’s stock worth $2,749,000 after purchasing an additional 127 shares during the period. North Capital Inc. purchased a new stake in Intuit during the first quarter worth about $126,000. Barlow Wealth Partners Inc. increased its stake in Intuit by 0.8% during the first quarter. Barlow Wealth Partners Inc. now owns 17,444 shares of the software maker’s stock worth $10,887,000 after purchasing an additional 139 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of Intuit by 4.8% during the first quarter. D.A. Davidson & CO. now owns 10,257 shares of the software maker’s stock worth $6,298,000 after buying an additional 470 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,618 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $1,252,170.20. Following the completion of the transaction, the chief financial officer owned 768 shares of the company’s stock, valued at $594,355.20. The trade was a 67.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,661 shares of company stock valued at $206,491,776. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. Bank of America boosted their price objective on Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. KeyCorp reissued an “overweight” rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. CLSA initiated coverage on Intuit in a research report on Thursday, June 26th. They set an “outperform” rating and a $900.00 price objective for the company. Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $820.00 price target (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $793.05.

Intuit Price Performance

INTU stock opened at $782.26 on Friday. The company has a market capitalization of $218.21 billion, a P/E ratio of 63.49, a PEG ratio of 3.44 and a beta of 1.27. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60. The business has a 50 day simple moving average of $715.74 and a 200-day simple moving average of $641.72. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

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.