Federated Hermes Inc. Buys 44,128 Shares of Intapp, Inc. (NASDAQ:INTA)

Key Points

• Federated Hermes Inc. increased its stake in Intapp, Inc. by 33.0%, now owning 177,794 shares valued at approximately $10.38 million.
• Intapp reported a 16.7% increase in quarterly revenue, reaching $129.07 million, and exceeded earnings expectations by posting $0.26 earnings per share.
• Analyst ratings for Intapp vary, with a consensus of "Moderate Buy" and an average target price of $60.11, despite some recent downgrades by prominent research firms.

Federated Hermes Inc. raised its stake in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 33.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,794 shares of the company's stock after purchasing an additional 44,128 shares during the quarter. Federated Hermes Inc. owned approximately 0.22% of Intapp worth $10,380,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Intapp by 74.2% during the first quarter. Farther Finance Advisors LLC now owns 526 shares of the company's stock valued at $31,000 after purchasing an additional 224 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Intapp by 414.7% during the first quarter. Nisa Investment Advisors LLC now owns 803 shares of the company's stock valued at $47,000 after buying an additional 647 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of Intapp by 273.8% during the fourth quarter. Johnson Financial Group Inc. now owns 826 shares of the company's stock valued at $53,000 after purchasing an additional 605 shares during the period. CoreCap Advisors LLC bought a new stake in shares of Intapp during the fourth quarter valued at approximately $64,000. Finally, CWM LLC increased its stake in shares of Intapp by 27.0% during the first quarter. CWM LLC now owns 1,003 shares of the company's stock valued at $59,000 after buying an additional 213 shares during the period. Institutional investors own 89.96% of the company's stock.

Insider Buying and Selling at Intapp

In other news, insider David Benjamin Harrison sold 14,275 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $55.01, for a total transaction of $785,267.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John T. Hall sold 8,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.28, for a total transaction of $442,240.00. Following the transaction, the chief executive officer directly owned 5,445,335 shares of the company's stock, valued at $301,018,118.80. This represents a 0.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,913 shares of company stock worth $3,974,734 in the last 90 days. 13.02% of the stock is currently owned by company insiders.

Intapp Trading Up 3.6%

INTA stock traded up $1.41 during trading on Monday, reaching $40.44. 624,241 shares of the company's stock were exchanged, compared to its average volume of 871,651. Intapp, Inc. has a 1-year low of $31.08 and a 1-year high of $77.74. The company's fifty day moving average price is $49.42 and its 200-day moving average price is $57.02.

Intapp (NASDAQ:INTA - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $129.07 million during the quarter, compared to the consensus estimate of $128.84 million. Intapp had a negative return on equity of 1.19% and a negative net margin of 3.78%. Intapp's revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, research analysts expect that Intapp, Inc. will post -0.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTA. Truist Financial decreased their price target on Intapp from $80.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wall Street Zen cut shares of Intapp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Piper Sandler raised shares of Intapp to a "neutral" rating and set a $55.00 target price on the stock in a research note on Tuesday, June 24th. Citigroup cut their price target on Intapp from $66.00 to $53.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Finally, UBS Group reduced their target price on shares of Intapp from $92.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.11.

Intapp Profile

Intapp, Inc, through its subsidiary, Integration Appliance, Inc, provides industry-specific cloud-based software solutions for the professional and financial services industry in the United States, the United Kingdom, and internationally. Its solutions include DealCloud, a deal and relationship management solution that manages financial services firms' market relationships, prospective clients and investments, current engagements and deal processes, and operations and compliance activities; collaboration and content solutions, including Intapp documents, an engagement-centric document management system, and Intapp workspaces; risk and compliance management solutions, such as Intapp conflicts, Intapp intake, Intapp terms, Intapp walls, and Intapp employee compliance; and operational and financial management solutions comprising Intapp Billstream, a cloud-based automated proforma invoice solution, Intapp time, and Intapp terms.