Intuit Inc. $INTU Stock Sold by Calamos Advisors LLC

Key Points

• Calamos Advisors cut its Intuit stake by 40.4% in the third quarter, selling 42,724 shares and ending the period with 63,050 shares valued at about $17.4 million. Other institutional investors increased their holdings.
• Analyst views are mixed: MarketBeat reports a consensus “Hold” rating and a $431.55 average price target, while several firms recently lowered their targets.
• Intuit beat quarterly earnings and revenue estimates, with revenue up 13.7% year over year; it also increased its quarterly dividend from $1.20 to $1.38 per share.

Calamos Advisors LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 40.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,050 shares of the software maker's stock after selling 42,724 shares during the period. Calamos Advisors LLC's holdings in Intuit were worth $17,384,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of INTU. Alta Advisers Ltd raised its holdings in Intuit by 85.4% during the third quarter. Alta Advisers Ltd now owns 2,017 shares of the software maker's stock worth $556,000 after acquiring an additional 929 shares in the last quarter. Westside Investment Management Inc. boosted its position in Intuit by 57.1% during the third quarter. Westside Investment Management Inc. now owns 7,989 shares of the software maker's stock valued at $2,203,000 after purchasing an additional 2,903 shares during the last quarter. Monte Financial Group LLC boosted its position in Intuit by 27.6% during the third quarter. Monte Financial Group LLC now owns 20,379 shares of the software maker's stock valued at $5,619,000 after purchasing an additional 4,403 shares during the last quarter. Kestra Advisory Services LLC grew its stake in Intuit by 23.3% in the third quarter. Kestra Advisory Services LLC now owns 11,463 shares of the software maker's stock valued at $3,160,000 after purchasing an additional 2,166 shares in the last quarter. Finally, Inscription Capital LLC grew its stake in Intuit by 12.9% in the third quarter. Inscription Capital LLC now owns 2,959 shares of the software maker's stock valued at $816,000 after purchasing an additional 339 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, Director Richard Dalzell sold 285 shares of Intuit stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total transaction of $92,727.60. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at approximately $3,751,726.16. The trade was a 2.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total value of $314,311.78. Following the transaction, the chief accounting officer directly owned 1,628 shares in the company, valued at $564,167.12. The trade was a 35.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.49% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on INTU. Wells Fargo & Company lowered their price target on Intuit from $360.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 26th. Morgan Stanley cut their price objective on Intuit from $335.00 to $315.00 and set an "equal weight" rating for the company in a report on Wednesday, August 26th. UBS Group reissued a "neutral" rating on shares of Intuit in a report on Friday, September 18th. The Goldman Sachs Group reissued a "sell" rating on shares of Intuit in a research note on Thursday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intuit from $530.00 to $425.00 and set a "buy" rating on the stock in a report on Wednesday, August 19th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Intuit currently has a consensus rating of "Hold" and a consensus target price of $431.55.

Intuit Trading Down 3.8%

Shares of NASDAQ:INTU opened at $341.50 on Friday. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $682.27. The company has a market capitalization of $91.26 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.13 and a beta of 0.91. The company has a 50-day simple moving average of $318.61 and a 200 day simple moving average of $357.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.51 and a current ratio of 1.51.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, topping analysts' consensus estimates of $3.58 by $0.45. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.27 billion. Intuit had a return on equity of 25.97% and a net margin of 21.29%. Intuit's quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $2.75 earnings per share. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Sell-side analysts forecast that Intuit Inc. will post 23.02 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, October 8th were paid a dividend of $1.38 per share. The ex-dividend date was Thursday, October 8th. This represents a $5.52 annualized dividend and a dividend yield of 1.6%. This is an increase from Intuit's previous quarterly dividend of $1.20. Intuit's dividend payout ratio is presently 33.45%.

Intuit Profile

Intuit Inc develops financial management and business software for consumers, small businesses, and accounting professionals. Its products and services help users manage personal finances, prepare taxes, run businesses, handle payments, and support marketing activities.

Its offerings include TurboTax for tax preparation, QuickBooks for accounting and business management, Credit Karma for personal finance, and Mailchimp for email marketing and customer engagement. Intuit serves customers in the United States and other markets around the world.

Founded in 1983 by Scott Cook and Tom Proulx, Intuit is headquartered in Mountain View, California.

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