Praesidium Investment Management Company LLC Sells 132,704 Shares of Intapp, Inc. (NASDAQ:INTA)

Praesidium Investment Management Company LLC reduced its holdings in Intapp, Inc. (NASDAQ:INTA) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,797,391 shares of the company’s stock after selling 132,704 shares during the quarter. Intapp comprises 19.3% of Praesidium Investment Management Company LLC’s portfolio, making the stock its biggest holding. Praesidium Investment Management Company LLC owned approximately 2.26% of Intapp worth $115,195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. lifted its stake in shares of Intapp by 6,506.1% in the fourth quarter. Invesco Ltd. now owns 1,980,506 shares of the company’s stock valued at $126,931,000 after buying an additional 1,950,526 shares during the period. Vanguard Group Inc. lifted 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 valued at $408,139,000 after buying an additional 672,832 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of 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 buying an additional 579,075 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Intapp in the fourth quarter valued at about $30,563,000. Finally, Capital World Investors lifted 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. 89.96% of the stock is owned by institutional investors and hedge funds.

Intapp Trading Up 0.3%

NASDAQ INTA opened at $56.76 on Thursday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of -195.72 and a beta of 0.84. The company has a 50 day moving average of $56.03 and a 200-day moving average of $61.66. Intapp, Inc. has a 1-year low of $31.08 and a 1-year high of $77.74.

Intapp (NASDAQ:INTA) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $129.07 million during the quarter, compared to analyst estimates of $128.84 million. Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. On average, analysts forecast that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insider Transactions at Intapp

In related news, insider Thad Jampol sold 112,928 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $59.27, for a total value of $6,693,242.56. Following the completion of the sale, the insider now owns 857,250 shares of the company’s stock, valued at $50,809,207.50. This trade represents a 11.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michele Murgel sold 1,962 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $60.00, for a total transaction of $117,720.00. Following the completion of the sale, the insider now directly owns 182,462 shares of the company’s stock, valued at approximately $10,947,720. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,755 shares of company stock valued at $17,372,011. Corporate insiders own 13.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on INTA. Barclays reduced their target price on shares of Intapp from $68.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Truist Financial reduced their target price on shares of Intapp from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Piper Sandler reduced their target price on shares of Intapp from $71.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. UBS Group cut their price target on shares of Intapp from $92.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus cut their price target on shares of Intapp from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.89.

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.