Calamos Advisors LLC Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Calamos Advisors LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 19.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 77,211 shares of the software maker’s stock after selling 18,755 shares during the quarter. Calamos Advisors LLC’s holdings in Intuit were worth $50,744,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC boosted its holdings in shares of Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after acquiring an additional 2,641 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after acquiring an additional 226 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Intuit by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after acquiring an additional 1,990 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 6.8 %

INTU stock traded down $45.44 during trading on Friday, reaching $619.85. 4,113,425 shares of the company traded hands, compared to its average volume of 1,333,187. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The business has a 50 day simple moving average of $639.27 and a 200 day simple moving average of $634.37. The company has a market capitalization of $173.28 billion, a price-to-earnings ratio of 57.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s payout ratio is 33.21%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group increased their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $703.27.

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock valued at $114,442,445 over the last quarter. 2.90% of the stock is currently owned by company insiders.

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.