Townsquare Capital LLC Takes Position in Intapp, Inc. $INTA

Key Points

• Townsquare Capital LLC acquired 17,723 shares of Intapp, Inc. in Q1, valued at approximately $1,035,000, indicating growing institutional interest in the company.
• Intapp's stock price hit $42.12 during midday trading, with a market cap of $3.41 billion, while the company reported a revenue increase of 18.1% year-over-year.
• The company announced a stock repurchase plan allowing the buyback of $150 million worth of shares, reflecting confidence from its board in the stock's valuation.

Townsquare Capital LLC purchased a new stake in Intapp, Inc. (NASDAQ:INTA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,723 shares of the company's stock, valued at approximately $1,035,000.

Several other large investors have also added to or reduced their stakes in the business. Rezny Wealth Management Inc. purchased a new position in Intapp during the first quarter worth about $1,413,000. Charles Schwab Investment Management Inc. boosted its holdings in Intapp by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 455,085 shares of the company's stock worth $26,568,000 after purchasing an additional 6,419 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intapp by 4.5% during the first 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. Thoroughbred Financial Services LLC boosted its holdings in Intapp by 128.0% during the first 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 last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Intapp during the first quarter worth about $924,000. Institutional investors own 89.96% of the company's stock.

Intapp Trading Up 1.6%

Shares of NASDAQ INTA traded up $0.66 during midday trading on Monday, hitting $42.78. The company's stock had a trading volume of 596,716 shares, compared to its average volume of 728,886. The stock has a fifty day moving average price of $46.16 and a 200 day moving average price of $54.89. Intapp, Inc. has a one year low of $35.51 and a one year high of $77.74. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -178.21, a P/E/G ratio of 13.03 and a beta of 0.73.

Intapp (NASDAQ:INTA - Get Free Report) last posted its quarterly earnings results 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. Intapp had a negative net margin of 3.61% and a negative return on equity of 0.91%. The company had revenue of $135.04 million for the quarter, compared to analyst estimates of $132.07 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company's quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current fiscal year.

Intapp announced that its board has authorized a share buyback program on Tuesday, August 12th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on INTA shares. Citigroup cut their price target on shares of Intapp from $66.00 to $53.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Piper Sandler upgraded shares of Intapp to a "neutral" rating and set a $55.00 price target for the company in a research note on Tuesday, June 24th. Stifel Nicolaus decreased their price target 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. Wall Street Zen lowered shares of Intapp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, UBS Group restated a "buy" rating and set a $72.00 price target (down previously from $83.00) on shares of Intapp in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $60.63.

Insider Activity

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 owned 32,739 shares of the company's stock, valued at approximately $1,801,299.78. This represents a 23.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $785,267.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,913 shares of company stock worth $3,974,734. Insiders own 13.02% of the company's stock.

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.