Capital World Investors increased its holdings in shares of Intapp, Inc. (NASDAQ:INTA – Free Report) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,892,169 shares of the company’s stock after buying an additional 343,914 shares during the quarter. Capital World Investors owned 3.53% of Intapp worth $118,290,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Swiss National Bank increased its holdings in shares of Intapp by 3.5% in the third quarter. Swiss National Bank now owns 109,800 shares of the company’s stock worth $4,491,000 after acquiring an additional 3,700 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Intapp by 176.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,109 shares of the company’s stock valued at $209,000 after purchasing an additional 3,261 shares during the period. Alamar Capital Management LLC grew its position in shares of Intapp by 13.9% in the 3rd quarter. Alamar Capital Management LLC now owns 92,345 shares of the company’s stock valued at $3,777,000 after purchasing an additional 11,265 shares during the period. Natixis Advisors LLC increased its stake in Intapp by 2.2% during the 3rd quarter. Natixis Advisors LLC now owns 11,603 shares of the company’s stock worth $475,000 after purchasing an additional 250 shares in the last quarter. Finally, George Kaiser Family Foundation raised its holdings in Intapp by 30.1% during the 3rd quarter. George Kaiser Family Foundation now owns 133,817 shares of the company’s stock worth $5,473,000 after buying an additional 30,952 shares during the period. 89.96% of the stock is currently owned by institutional investors.
Intapp Trading Down 0.5%
NASDAQ:INTA opened at $25.34 on Thursday. The stock has a market capitalization of $2.04 billion, a PE ratio of -84.47, a P/E/G ratio of 111.53 and a beta of 0.73. Intapp, Inc. has a 1-year low of $19.24 and a 1-year high of $64.31. The firm has a fifty day simple moving average of $31.45 and a 200 day simple moving average of $38.59.
Intapp declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
Several research firms have recently weighed in on INTA. JPMorgan Chase & Co. reduced their price target on shares of Intapp from $70.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Wall Street Zen cut shares of Intapp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 3rd. Truist Financial set a $35.00 target price on shares of Intapp in a research note on Wednesday, February 4th. Citigroup lowered their target price on Intapp from $49.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Intapp in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.71.
Check Out Our Latest Research Report on INTA
Insider Activity
In other news, CEO John T. Hall sold 8,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $47.48, for a total value of $379,840.00. Following the sale, the chief executive officer directly owned 5,711,668 shares of the company’s stock, valued at approximately $271,189,996.64. This represents a 0.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.21% of the company’s stock.
Intapp Company Profile
Intapp, Inc, headquartered in Palo Alto, California, is a leading provider of cloud-based software solutions designed to meet the unique needs of professional services firms, including law firms, accounting practices, and financial institutions. The company’s integrated platform connects front-office business development with back-office risk and compliance functions, enabling organizations to streamline workflows, improve collaboration and enhance client service.
Intapp’s suite of applications—such as Intake, Conflicts, Risk, Open, Time and Flow—addresses the entire client lifecycle.
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