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

Calamos Advisors LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% during the 4th quarter, according to the company in its most recent filing 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Ninety One SA PTY Ltd boosted its stake in Intuit by 8.6% during the 4th quarter. Ninety One SA PTY Ltd now owns 8,671 shares of the software maker’s stock valued at $5,420,000 after purchasing an additional 689 shares during the last quarter. Tilt Investment Management Holdings PBC purchased a new stake in Intuit during the 4th quarter valued at $707,000. Cambridge Trust Co. boosted its stake in shares of Intuit by 63.3% in the 4th quarter. Cambridge Trust Co. now owns 160 shares of the software maker’s stock worth $100,000 after buying an additional 62 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Intuit by 64.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,890 shares of the software maker’s stock worth $1,182,000 after buying an additional 740 shares during the last quarter. Finally, Pacific Wealth Management boosted its stake in shares of Intuit by 20.7% in the 4th quarter. Pacific Wealth Management now owns 613 shares of the software maker’s stock worth $383,000 after buying an additional 105 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Barclays raised their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Piper Sandler raised their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Activity at Intuit

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

Intuit Trading Down 0.8 %

Shares of NASDAQ:INTU traded down $4.83 during trading hours on Thursday, hitting $608.38. 773,747 shares of the company’s stock traded hands, compared to its average volume of 1,243,719. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The business has a fifty day moving average price of $644.88 and a 200-day moving average price of $598.39. The firm has a market capitalization of $170.35 billion, a P/E ratio of 62.04, a price-to-earnings-growth ratio of 3.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $3.39 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

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

About Intuit

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.