Fred Alger Management LLC Lowers Stock Position in Intapp, Inc. $INTA

Key Points

• Fred Alger Management LLC reduced its stake in Intapp, Inc. by 14.9%, selling 70,708 shares, and now owns approximately 0.50% of the company valued at $23,657,000 as of its latest SEC filing.
• In the first quarter, several hedge funds increased their holdings in Intapp, with Quarry LP growing its stake by 1,155.4%, indicating significant interest from institutional investors.
• Intapp announced a $150 million share buyback plan, suggesting management believes the stock is undervalued, amidst mixed ratings from analysts and a recent decline in stock price.

Fred Alger Management LLC lessened its holdings in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 14.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 405,228 shares of the company's stock after selling 70,708 shares during the quarter. Fred Alger Management LLC owned approximately 0.50% of Intapp worth $23,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of INTA. Farther Finance Advisors LLC boosted its stake in shares of Intapp by 74.2% during the 1st quarter. Farther Finance Advisors LLC now owns 526 shares of the company's stock worth $31,000 after acquiring an additional 224 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Intapp during the 1st quarter worth $36,000. Quarry LP boosted its stake in shares of Intapp by 1,155.4% during the 1st quarter. Quarry LP now owns 703 shares of the company's stock worth $41,000 after acquiring an additional 647 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Intapp by 414.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 803 shares of the company's stock worth $47,000 after acquiring an additional 647 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Intapp by 27.0% during the 1st quarter. CWM LLC now owns 1,003 shares of the company's stock worth $59,000 after acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Intapp from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, July 8th. Piper Sandler upgraded shares of Intapp to a "neutral" rating and set a $55.00 price objective on the stock in a research report on Tuesday, June 24th. Barclays raised their price objective on shares of Intapp from $44.00 to $47.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Wall Street Zen downgraded shares of Intapp from a "buy" rating to a "hold" rating in a research report on Saturday, September 6th. Finally, UBS Group decreased their price objective on shares of Intapp from $83.00 to $72.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Intapp currently has an average rating of "Hold" and a consensus target price of $60.63.

Intapp Stock Down 0.5%

NASDAQ INTA traded down $0.24 during trading hours on Friday, hitting $45.16. 1,229,289 shares of the company were exchanged, compared to its average volume of 900,386. The stock has a 50-day moving average price of $42.91 and a 200 day moving average price of $51.38. Intapp, Inc. has a 52 week low of $35.51 and a 52 week high of $77.74. The stock has a market cap of $3.71 billion, a PE ratio of -188.17, a price-to-earnings-growth ratio of 19.34 and a beta of 0.74.

Intapp (NASDAQ:INTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Intapp had a negative return on equity of 0.89% and a negative net margin of 3.61%.The company had revenue of $135.04 million for the quarter, compared to analysts' expectations of $132.07 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm's revenue for the quarter was up 18.1% on a year-over-year basis. Intapp has set its Q1 2026 guidance at 0.180-0.200 EPS. FY 2026 guidance at 1.090-1.130 EPS. As a group, sell-side analysts anticipate that Intapp, Inc. will post -0.14 earnings per share for the current year.

Intapp announced that its board has initiated a stock repurchase plan on Tuesday, August 12th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Intapp

In other Intapp news, CEO John T. Hall sold 19,515 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $42.94, for a total value of $837,974.10. Following the completion of the sale, the chief executive officer directly owned 5,598,775 shares of the company's stock, valued at $240,411,398.50. The trade was a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michele Murgel sold 5,425 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $42.06, for a total transaction of $228,175.50. Following the completion of the sale, the insider directly owned 224,522 shares of the company's stock, valued at approximately $9,443,395.32. This trade represents a 2.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,649 shares of company stock worth $4,224,079 in the last three months. 13.02% of the stock is owned by insiders.

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.