Calamos Advisors LLC Sells 917 Shares of Intuit Inc. (NASDAQ:INTU)

Calamos Advisors LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,699 shares of the software maker’s stock after selling 917 shares during the period. Calamos Advisors LLC’s holdings in Intuit were worth $64,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Desjardins Global Asset Management Inc. raised its position in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the last quarter. GAM Holding AG raised its position in Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after buying an additional 17 shares during the last quarter. Janiczek Wealth Management LLC raised its position in Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after buying an additional 17 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in Intuit by 0.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after buying an additional 18 shares during the last quarter. Finally, Glenview Trust co raised its position in Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after buying an additional 19 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,717 shares of company stock worth $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

INTU traded down $4.83 on Thursday, reaching $608.38. The stock had a trading volume of 773,747 shares, compared to its average volume of 1,243,719. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a 50-day moving average of $644.88 and a 200-day moving average of $598.39. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $170.35 billion, a price-to-earnings ratio of 62.04, a price-to-earnings-growth ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its earnings results 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. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Wells Fargo & Company raised their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Oppenheimer raised their price target on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Piper Sandler raised their price target on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

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.