Intuit Inc. (NASDAQ:INTU) Holdings Raised by Calamos Advisors LLC

Calamos Advisors LLC raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,977 shares of the software maker's stock after purchasing an additional 8,312 shares during the period. Calamos Advisors LLC's holdings in Intuit were worth $51,561,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after acquiring an additional 132,384 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Norges Bank acquired a new stake in shares of Intuit during the 4th quarter valued at approximately $2,290,419,000. Finally, Northern Trust Corp raised its position in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after acquiring an additional 498,030 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the transaction, the executive vice president owned 22,796 shares of the company's stock, valued at $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% 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.

Analyst Ratings Changes

Several research firms recently issued reports on INTU. Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. CLSA started coverage on Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price on the stock. Barclays reaffirmed an "overweight" rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $850.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $793.05.

Intuit Price Performance

INTU stock traded up $4.45 during trading hours on Monday, hitting $785.09. 189,734 shares of the stock traded hands, compared to its average volume of 1,614,275. The stock has a 50-day simple moving average of $718.90 and a 200 day simple moving average of $642.43. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The company has a market cap of $219.00 billion, a P/E ratio of 63.74, a P/E/G ratio of 3.47 and a beta of 1.27. 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 - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating 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 last year, the business posted $9.88 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.53%. Intuit's dividend payout ratio is currently 33.77%.

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.