Sei Investments Co. Sells 11,955 Shares of Intapp, Inc. $INTA

Key Points

• Sei Investments Co. has reduced its holdings in Intapp, Inc. by 14.2%, selling 11,955 shares, and now owns 72,518 shares valued at approximately $4.59 million.
• Intapp's Board of Directors initiated a $150 million share buyback program, allowing the company to buy back up to 5.2% of its stock, a move often signaling that the board considers its shares to be undervalued.
• Analysts have adjusted their price targets on Intapp, with Citigroup lowering its target from $66 to $53, while UBS maintained a buy rating with a target of $72, reflecting mixed sentiments on the stock's performance.

Sei Investments Co. cut its position in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 14.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,518 shares of the company's stock after selling 11,955 shares during the period. Sei Investments Co. owned about 0.09% of Intapp worth $4,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of INTA. Farther Finance Advisors LLC raised its holdings in shares of Intapp by 74.2% during the first 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 period. Nisa Investment Advisors LLC grew its stake in Intapp by 414.7% in the first quarter. Nisa Investment Advisors LLC now owns 803 shares of the company's stock valued at $47,000 after purchasing an additional 647 shares during the last quarter. Johnson Financial Group Inc. grew its holdings in Intapp by 273.8% in the 4th quarter. Johnson Financial Group Inc. now owns 826 shares of the company's stock valued at $53,000 after buying an additional 605 shares in the last quarter. CoreCap Advisors LLC acquired a new position in Intapp during the fourth quarter worth approximately $64,000. Finally, CWM LLC increased its stake in Intapp by 27.0% in the first quarter. CWM LLC now owns 1,003 shares of the company's stock valued at $59,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Insider Activity

In related news, insider David Benjamin Harrison sold 14,275 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $55.01, for a total value of $785,267.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Donald F. Coleman sold 5,629 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $57.07, for a total value of $321,247.03. Following the transaction, the chief operating officer owned 437,885 shares of the company's stock, valued at $24,990,096.95. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,913 shares of company stock valued at $3,974,734 over the last ninety days. 13.02% of the stock is currently owned by corporate insiders.

Intapp Stock Performance

INTA stock traded up $0.65 on Friday, hitting $42.12. 1,429,910 shares of the company's stock were exchanged, compared to its average volume of 1,276,451. Intapp, Inc. has a 12-month low of $35.51 and a 12-month high of $77.74. The stock has a market cap of $3.41 billion, a P/E ratio of -175.50, a price-to-earnings-growth ratio of 13.03 and a beta of 0.73. The firm has a 50 day moving average price of $46.16 and a two-hundred day moving average price of $54.89.

Intapp (NASDAQ:INTA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $135.04 million during the quarter, compared to analyst estimates of $132.07 million. Intapp had a negative net margin of 3.61% and a negative return on equity of 0.91%. Intapp's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. Sell-side 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 approved a stock buyback program 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 programs are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

INTA has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Intapp from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Piper Sandler raised shares of Intapp to a "neutral" rating and set a $55.00 price objective on the stock in a report on Tuesday, June 24th. Barclays reaffirmed an "underweight" rating and set a $47.00 price target (up from $44.00) on shares of Intapp in a research note on Wednesday. Citigroup dropped their target price on shares of Intapp from $66.00 to $53.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Finally, Stifel Nicolaus decreased their price objective on Intapp from $65.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Intapp currently has an average rating of "Hold" and a consensus target price of $60.63.

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.