Intapp, Inc. (NASDAQ:INTA) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 57.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,424 shares of the company's stock after selling 88,032 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Intapp worth $3,819,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in Intapp during the 1st quarter worth $924,000. Thoroughbred Financial Services LLC boosted its stake in Intapp by 128.0% during the 1st quarter. Thoroughbred Financial Services LLC now owns 13,768 shares of the company's stock worth $803,000 after purchasing an additional 7,729 shares during the period. Wells Fargo & Company MN lifted 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 worth $1,962,000 after acquiring an additional 13,543 shares during the period. Rhumbline Advisers lifted 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 worth $4,577,000 after acquiring an additional 5,257 shares during the period. Finally, Bank of New York Mellon Corp lifted 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 worth $15,417,000 after acquiring an additional 101,004 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen cut shares of Intapp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Stifel Nicolaus reduced their target price on shares of Intapp from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Piper Sandler upgraded shares of Intapp to a "neutral" rating and set a $55.00 price target for the company in a report on Tuesday, June 24th. UBS Group reiterated a "buy" rating and issued a $72.00 price target (down previously from $83.00) on shares of Intapp in a report on Wednesday. Finally, Barclays reiterated an "underweight" rating and issued a $47.00 price target (up previously from $44.00) on shares of Intapp in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.63.

Intapp Stock Performance

NASDAQ:INTA traded up $0.65 during mid-day trading on Friday, hitting $42.12. 1,429,910 shares of the company's stock traded hands, compared to its average volume of 1,244,147. The firm's 50 day simple moving average is $46.16 and its 200 day simple moving average is $55.01. Intapp, Inc. has a 1 year low of $35.51 and a 1 year high of $77.74. The company has a market cap of $3.41 billion, a PE ratio of -175.50, a price-to-earnings-growth ratio of 13.03 and a beta of 0.73.

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

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

Insider Activity

In related news, CEO John T. Hall sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.28, for a total value of $442,240.00. Following the sale, the chief executive officer directly owned 5,445,335 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Donald F. Coleman sold 2,809 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $56.77, for a total transaction of $159,466.93. Following the completion of the sale, the chief operating officer directly owned 435,076 shares in the company, valued at $24,699,264.52. This represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,913 shares of company stock valued at $3,974,734. 13.02% of the stock is owned by corporate 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.