Invesco Ltd. Buys 1,950,526 Shares of Intapp, Inc. (NASDAQ:INTA)

Invesco Ltd. lifted its position in shares of Intapp, Inc. (NASDAQ:INTA) by 6,506.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,980,506 shares of the company’s stock after purchasing an additional 1,950,526 shares during the period. Invesco Ltd. owned 2.49% of Intapp worth $126,931,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in Intapp by 198.2% in the fourth quarter. Federated Hermes Inc. now owns 133,666 shares of the company’s stock worth $8,567,000 after buying an additional 88,841 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Intapp by 33,057.7% during the 4th quarter. Russell Investments Group Ltd. now owns 8,621 shares of the company’s stock valued at $560,000 after acquiring an additional 8,595 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Intapp by 47.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 46,616 shares of the company’s stock worth $2,988,000 after acquiring an additional 15,079 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Intapp by 79.4% during the fourth quarter. Wells Fargo & Company MN now owns 30,607 shares of the company’s stock valued at $1,962,000 after purchasing an additional 13,543 shares during the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in Intapp during the fourth quarter valued at approximately $387,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intapp

In other Intapp news, insider Michele Murgel sold 1,962 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $60.00, for a total value of $117,720.00. Following the transaction, the insider now directly owns 182,462 shares in the company, valued at $10,947,720. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thad Jampol sold 112,928 shares of Intapp stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $59.27, for a total transaction of $6,693,242.56. Following the sale, the insider now owns 857,250 shares in the company, valued at $50,809,207.50. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,755 shares of company stock valued at $17,088,761. Insiders own 13.02% of the company’s stock.

Intapp Price Performance

NASDAQ INTA opened at $52.23 on Friday. The stock has a market capitalization of $4.15 billion, a P/E ratio of -180.10 and a beta of 0.82. The firm’s 50-day moving average is $62.58 and its two-hundred day moving average is $60.83. Intapp, Inc. has a 12 month low of $30.36 and a 12 month high of $77.74.

Intapp (NASDAQ:INTA) last announced its earnings results on Tuesday, February 4th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.25). Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. As a group, analysts anticipate that Intapp, Inc. will post -0.14 EPS for the current year.

Wall Street Analyst Weigh In

INTA has been the subject of several analyst reports. Barclays upped their price objective on Intapp from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Raymond James reiterated a “market perform” rating on shares of Intapp in a research note on Friday, January 3rd. Piper Sandler reissued an “overweight” rating and issued a $71.00 target price (up from $60.00) on shares of Intapp in a report on Tuesday, February 4th. Citigroup reaffirmed a “neutral” rating and set a $78.00 price target (down previously from $87.00) on shares of Intapp in a report on Thursday, January 16th. Finally, UBS Group raised their price objective on shares of Intapp from $89.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Intapp has a consensus rating of “Moderate Buy” and an average price target of $66.45.

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.