Rezny Wealth Management Inc. Makes New $1.41 Million Investment in Intapp, Inc. (NASDAQ:INTA)

Key Points

• Rezny Wealth Management Inc. acquired 24,195 shares of Intapp, Inc., valued at approximately $1.4 million, making it the firm's 28th largest holding.
• Over 89% of Intapp's stock is currently owned by institutional investors, with several hedge funds increasing their positions in the company significantly during the first quarter.
• Analysts have mixed ratings on Intapp, with a consensus of "Moderate Buy" and an average target price of $60.11, despite recent price adjustments by various firms.

Rezny Wealth Management Inc. purchased a new position in Intapp, Inc. (NASDAQ:INTA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,195 shares of the company's stock, valued at approximately $1,413,000. Intapp makes up about 0.4% of Rezny Wealth Management Inc.'s portfolio, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in Intapp by 6,506.1% during the 4th quarter. Invesco Ltd. now owns 1,980,506 shares of the company's stock worth $126,931,000 after purchasing an additional 1,950,526 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Intapp during the 4th quarter worth $30,563,000. Capital World Investors boosted its stake in Intapp by 30.3% during the 4th quarter. Capital World Investors now owns 1,701,939 shares of the company's stock worth $109,077,000 after purchasing an additional 395,804 shares during the last quarter. Vanguard Group Inc. boosted its stake in Intapp by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 6,652,139 shares of the company's stock worth $388,352,000 after purchasing an additional 283,923 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Intapp during the 4th quarter worth $12,627,000. 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 INTA shares. UBS Group lowered their price target on shares of Intapp from $92.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Piper Sandler raised shares of Intapp to a "neutral" rating and set a $55.00 price target on the stock in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Intapp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Barclays cut shares of Intapp from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $60.00 to $44.00 in a research report on Monday, July 14th. Finally, Stifel Nicolaus lowered their price target on shares of Intapp from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Intapp has an average rating of "Moderate Buy" and an average target price of $60.11.

Insider Buying and Selling at Intapp

In related news, CFO David H. Morton, Jr. sold 10,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.02, for a total transaction of $550,200.00. Following the sale, the chief financial officer directly owned 32,739 shares in the company, valued at approximately $1,801,299.78. This represents a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Benjamin Harrison sold 14,275 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.01, for a total transaction of $785,267.75. The disclosure for this sale can be found here. Insiders have sold 71,913 shares of company stock valued at $3,974,734 over the last three months. 13.02% of the stock is currently owned by company insiders.

Intapp Trading Down 1.1%

NASDAQ INTA traded down $0.42 during trading hours on Friday, reaching $36.94. The company had a trading volume of 1,645,122 shares, compared to its average volume of 859,023. The stock has a 50-day moving average of $47.85 and a 200 day moving average of $56.07. Intapp, Inc. has a 1-year low of $32.18 and a 1-year high of $77.74. The stock has a market capitalization of $2.99 billion, a P/E ratio of -153.92, a price-to-earnings-growth ratio of 7.81 and a beta of 0.73.

Intapp (NASDAQ:INTA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $129.07 million for the quarter, compared to analyst estimates of $128.84 million. Intapp had a negative net margin of 3.78% and a negative return on equity of 1.19%. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, sell-side analysts predict that Intapp, Inc. will post -0.14 EPS for the current year.

About Intapp

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.