Teacher Retirement System of Texas Cuts Stock Holdings in Intapp, Inc. (NASDAQ:INTA)

Teacher Retirement System of Texas lowered its position in Intapp, Inc. (NASDAQ:INTA - Free Report) by 46.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,580 shares of the company's stock after selling 30,933 shares during the quarter. Teacher Retirement System of Texas' holdings in Intapp were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its holdings 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 acquiring an additional 1,950,526 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Intapp by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 6,368,216 shares of the company's stock worth $408,139,000 after purchasing an additional 672,832 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Intapp by 408.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 720,994 shares of the company's stock valued at $46,209,000 after purchasing an additional 579,075 shares during the period. Lord Abbett & CO. LLC acquired a new position in Intapp during the 4th quarter worth about $30,563,000. Finally, Capital World Investors increased its stake in shares of 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 buying an additional 395,804 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Intapp Stock Down 5.7%

INTA traded down $2.68 during trading on Friday, hitting $44.27. 762,670 shares of the company's stock were exchanged, compared to its average volume of 647,013. Intapp, Inc. has a fifty-two week low of $31.08 and a fifty-two week high of $77.74. The stock has a market cap of $3.58 billion, a P/E ratio of -184.46, a PEG ratio of 8.78 and a beta of 0.76. The business's 50 day moving average is $54.02 and its two-hundred day moving average is $59.67.

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

Insider Activity

In related news, insider Thad Jampol sold 5,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $56.65, for a total transaction of $283,250.00. Following the sale, the insider directly owned 857,250 shares in the company, valued at approximately $48,563,212.50. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John T. Hall sold 31,200 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.01, for a total transaction of $1,716,312.00. Following the completion of the sale, the chief executive officer directly owned 5,445,335 shares in the company, valued at approximately $299,547,878.35. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,913 shares of company stock worth $4,257,984. 13.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTA has been the topic of several analyst reports. UBS Group reduced their target price on Intapp from $92.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Piper Sandler raised shares of Intapp to a "neutral" rating and set a $55.00 price objective on the stock in a research note on Tuesday, June 24th. Stifel Nicolaus decreased their price objective on shares of Intapp from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday. Barclays dropped their target price on shares of Intapp from $68.00 to $60.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, Truist Financial decreased their price target on Intapp from $80.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Intapp currently has a consensus rating of "Moderate Buy" and an average price target of $64.67.

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.