Palisades Investment Partners LLC Grows Stake in Intapp, Inc. (NASDAQ:INTA)

Palisades Investment Partners LLC raised its position in shares of Intapp, Inc. (NASDAQ:INTA - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,013 shares of the company's stock after purchasing an additional 15,123 shares during the period. Intapp makes up approximately 4.5% of Palisades Investment Partners LLC's investment portfolio, making the stock its 6th biggest position. Palisades Investment Partners LLC owned 0.21% of Intapp worth $10,640,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INTA. Raleigh Capital Management Inc. acquired a new position in Intapp during the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC acquired a new position in shares of Intapp during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Intapp during the fourth quarter worth $32,000. Johnson Financial Group Inc. increased its holdings in shares of Intapp by 273.8% during the fourth quarter. Johnson Financial Group Inc. now owns 826 shares of the company's stock worth $53,000 after buying an additional 605 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in shares of Intapp during the fourth quarter worth $64,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Intapp Stock Down 3.2%

Shares of NASDAQ INTA traded down $1.83 during trading on Friday, reaching $54.58. The company had a trading volume of 724,855 shares, compared to its average volume of 637,257. The company's fifty day moving average price is $55.70 and its 200-day moving average price is $61.99. Intapp, Inc. has a 12 month low of $31.08 and a 12 month high of $77.74. The stock has a market cap of $4.42 billion, a P/E ratio of -188.20 and a beta of 0.84.

Intapp (NASDAQ:INTA - Get Free Report) last released its quarterly 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 return on equity of 1.86% and a negative net margin of 4.78%. The firm had revenue of $129.07 million for the quarter, compared to analyst estimates of $128.84 million. During the same quarter in the previous year, the company posted $0.14 EPS. The business's revenue was up 16.7% on a year-over-year basis. As a group, equities analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Intapp news, CFO David H. Morton, Jr. sold 3,349 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $64.54, for a total transaction of $216,144.46. Following the completion of the sale, the chief financial officer now directly owns 31,656 shares in the company, valued at approximately $2,043,078.24. This trade represents a 9.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michele Murgel sold 4,632 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $64.54, for a total value of $298,949.28. Following the sale, the insider now owns 213,794 shares of the company's stock, valued at approximately $13,798,264.76. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,995 shares of company stock worth $13,571,636. Company insiders own 13.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INTA. Barclays lowered their price target on shares of Intapp from $68.00 to $60.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Piper Sandler lowered their price target on shares of Intapp from $71.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on shares of Intapp from $75.00 to $65.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Truist Financial lowered their price target on shares of Intapp from $80.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Citigroup reiterated a "neutral" rating on shares of Intapp in a report on Monday, April 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $66.89.

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.