Federated Hermes Inc. Boosts Position in 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. increased its holdings in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 33.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Intapp by 79.4% in the 4th quarter. Wells Fargo & Company MN now owns 30,607 shares of the company's stock valued at $1,962,000 after purchasing an additional 13,543 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Intapp by 7.2% in the 1st quarter. Rhumbline Advisers now owns 78,398 shares of the company's stock valued at $4,577,000 after purchasing an additional 5,257 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Intapp by 61.9% in the 1st quarter. Bank of New York Mellon Corp now owns 264,088 shares of the company's stock valued at $15,417,000 after purchasing an additional 101,004 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Intapp by 629.2% in the 1st quarter. Victory Capital Management Inc. now owns 63,089 shares of the company's stock valued at $3,683,000 after purchasing an additional 54,437 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Intapp by 669.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 152,992 shares of the company's stock valued at $9,806,000 after purchasing an additional 133,108 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Insider Buying and Selling

In other news, COO Donald F. Coleman sold 5,629 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $57.07, for a total transaction of $321,247.03. Following the completion of the transaction, the chief operating officer directly owned 437,885 shares in the company, valued at $24,990,096.95. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John T. Hall sold 31,200 shares of Intapp stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.01, for a total value of $1,716,312.00. Following the completion of the sale, the chief executive officer owned 5,445,335 shares of the company's stock, valued at $299,547,878.35. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,913 shares of company stock valued at $3,974,734 over the last ninety days. Insiders own 13.02% of the company's stock.

Intapp Price Performance

NASDAQ:INTA traded down $0.80 during trading hours on Wednesday, hitting $39.70. The company had a trading volume of 246,824 shares, compared to its average volume of 662,368. The company has a market capitalization of $3.21 billion, a PE ratio of -165.39, a price-to-earnings-growth ratio of 8.00 and a beta of 0.73. The stock has a 50-day moving average price of $48.85 and a 200 day moving average price of $56.72. Intapp, Inc. has a 52 week low of $31.32 and a 52 week high of $77.74.

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 analysts' consensus estimates of $0.22 by $0.04. Intapp had a negative net margin of 3.78% and a negative return on equity of 1.19%. The firm had revenue of $129.07 million for the quarter, compared to analysts' expectations of $128.84 million. During the same quarter in the previous year, the business posted $0.14 EPS. The company's quarterly revenue was up 16.7% on a year-over-year basis. Analysts anticipate that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INTA has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Intapp from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Barclays lowered shares of Intapp from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $60.00 to $44.00 in a research note on Monday, July 14th. Piper Sandler raised shares of Intapp to a "neutral" rating and set a $55.00 price target on the stock in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Intapp from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Finally, UBS Group lowered their price target on shares of Intapp from $92.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.11.

Intapp Company 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.