Intapp, Inc. (NASDAQ:INTA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Intapp, Inc. (NASDAQ:INTA) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,770 shares of the company’s stock after selling 1,052 shares during the period. PNC Financial Services Group Inc.’s holdings in Intapp were worth $337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new stake in Intapp in the 1st quarter valued at approximately $924,000. Wells Fargo & Company MN raised its position in shares of Intapp by 79.4% in the 4th quarter. Wells Fargo & Company MN now owns 30,607 shares of the company’s stock worth $1,962,000 after buying an additional 13,543 shares during the period. Rhumbline Advisers raised its position in shares of Intapp by 7.2% in the 1st quarter. Rhumbline Advisers now owns 78,398 shares of the company’s stock worth $4,577,000 after buying an additional 5,257 shares during the period. Bank of New York Mellon Corp raised its position in shares of Intapp by 61.9% in the 1st quarter. Bank of New York Mellon Corp now owns 264,088 shares of the company’s stock worth $15,417,000 after buying an additional 101,004 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Intapp by 629.2% in the 1st quarter. Victory Capital Management Inc. now owns 63,089 shares of the company’s stock worth $3,683,000 after buying an additional 54,437 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling

In other news, CFO David H. Morton, Jr. sold 10,000 shares of Intapp stock in a transaction that occurred on Friday, May 23rd. The stock was 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. The trade was a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Benjamin Harrison sold 14,275 shares of Intapp stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.01, for a total value of $785,267.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,913 shares of company stock valued at $3,974,734. 13.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays reissued an “underweight” rating and issued a $47.00 price objective (up from $44.00) on shares of Intapp in a research report on Wednesday. UBS Group restated a “buy” rating and set a $72.00 target price (down from $83.00) on shares of Intapp in a research note on Wednesday. Wall Street Zen downgraded Intapp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 21st. Stifel Nicolaus lowered their target price on Intapp from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, July 8th. Finally, Piper Sandler upgraded Intapp to a “neutral” rating and set a $55.00 target price for the company in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.63.

Intapp Stock Up 1.6%

Shares of INTA stock opened at $42.12 on Friday. The business has a 50 day moving average of $46.16 and a two-hundred day moving average of $55.12. Intapp, Inc. has a 52 week low of $35.51 and a 52 week high of $77.74. The company has a market cap of $3.41 billion, a P/E ratio of -175.50, a PEG ratio of 12.83 and a beta of 0.73.

Intapp (NASDAQ:INTA) last issued its earnings results on Tuesday, August 12th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Intapp had a negative return on equity of 0.91% and a negative net margin of 3.61%. The company had revenue of $135.04 million during the quarter, compared to the consensus estimate of $132.07 million. During the same period in the previous year, the firm posted $0.15 earnings per share. Intapp’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts expect that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Intapp announced that its Board of Directors has approved a stock 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 buy up to 5.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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.