Intapp, Inc. (NASDAQ:INTA) Shares Bought by Invesco Ltd.

Invesco Ltd. raised its stake in Intapp, Inc. (NASDAQ:INTA - Free Report) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,100,618 shares of the company's stock after acquiring an additional 120,112 shares during the quarter. Invesco Ltd. owned approximately 2.59% of Intapp worth $122,634,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Lord Abbett & CO. LLC acquired a new position in Intapp in the fourth quarter valued at $30,563,000. Capital World Investors increased its stake in Intapp by 30.3% in the fourth quarter. Capital World Investors now owns 1,701,939 shares of the company's stock valued at $109,077,000 after purchasing an additional 395,804 shares during the last quarter. Vanguard Group Inc. increased its stake in Intapp by 4.5% in the first quarter. Vanguard Group Inc. now owns 6,652,139 shares of the company's stock valued at $388,352,000 after purchasing an additional 283,923 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Intapp in the fourth quarter valued at $12,627,000. Finally, Nuveen Asset Management LLC increased its stake in Intapp by 43.3% in the fourth quarter. Nuveen Asset Management LLC now owns 628,995 shares of the company's stock valued at $40,312,000 after purchasing an additional 189,989 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on INTA shares. Stifel Nicolaus dropped their target price on Intapp from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Citigroup dropped their target price on Intapp from $66.00 to $53.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Piper Sandler upgraded Intapp to a "neutral" rating and set a $55.00 target price for the company in a research note on Tuesday, June 24th. UBS Group restated a "buy" rating and set a $72.00 price target (down from $83.00) on shares of Intapp in a research note on Wednesday. Finally, Wall Street Zen lowered Intapp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $60.63.

Insider Buying and Selling

In other news, CEO John T. Hall sold 8,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.28, for a total value of $442,240.00. Following the completion of the sale, the chief executive officer owned 5,445,335 shares in the company, valued at approximately $301,018,118.80. This trade represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Benjamin Harrison sold 14,275 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $55.01, for a total value of $785,267.75. The disclosure for this sale can be found here. Insiders have sold a total of 71,913 shares of company stock worth $3,974,734 in the last ninety days. 13.02% of the stock is owned by corporate insiders.

Intapp Price Performance

Shares of NASDAQ:INTA opened at $41.47 on Friday. Intapp, Inc. has a 12 month low of $35.51 and a 12 month high of $77.74. The firm has a market capitalization of $3.36 billion, a PE ratio of -172.79, a P/E/G ratio of 9.01 and a beta of 0.73. The business has a 50-day moving average of $46.48 and a two-hundred day moving average of $55.33.

Intapp (NASDAQ:INTA - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.04. Intapp had a negative return on equity of 0.91% and a negative net margin of 3.61%. The business had revenue of $135.04 million during the quarter, compared to analyst estimates of $132.07 million. During the same quarter last year, the firm earned $0.15 earnings per share. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, research analysts anticipate that Intapp, Inc. will post -0.14 earnings per share for the current year.

Intapp declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 12th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

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.

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