Calamos Advisors LLC Acquires 8,312 Shares of Intuit Inc. (NASDAQ:INTU)

Calamos Advisors LLC boosted its stake 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 SEC. The institutional investor owned 83,977 shares of the software maker's stock after buying an additional 8,312 shares during the quarter. Calamos Advisors LLC's holdings in Intuit were worth $51,561,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after purchasing an additional 1,350 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after purchasing an additional 482 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after purchasing an additional 248 shares during the period. J.Safra Asset Management Corp lifted its stake in shares of Intuit by 80.0% during the 4th quarter. J.Safra Asset Management Corp now owns 108 shares of the software maker's stock worth $68,000 after purchasing an additional 48 shares during the period. Finally, NewSquare Capital LLC lifted its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

NASDAQ:INTU traded up $2.97 on Monday, reaching $783.61. The stock had a trading volume of 1,294,877 shares, compared to its average volume of 1,618,568. The company has a market capitalization of $218.59 billion, a P/E ratio of 63.60, a price-to-earnings-growth ratio of 3.47 and a beta of 1.27. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average price of $718.90 and a 200-day moving average price of $642.43.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the business earned $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 62,816 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the sale, the insider directly owned 6,000,679 shares of the company's stock, valued at $4,596,460,107.21. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president directly owned 19 shares of the company's stock, valued at $14,704.10. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,661 shares of company stock valued at $206,491,776 over the last 90 days. Company insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. BMO Capital Markets restated an "outperform" rating and set a $820.00 price objective (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus upped their price objective on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. KeyCorp restated an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. One equities research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $798.27.

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.