Brown Brothers Harriman & Co. acquired a new position in shares of Intapp, Inc. (NASDAQ:INTA – Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,108,767 shares of the company’s stock, valued at approximately $45,349,000. Brown Brothers Harriman & Co. owned about 1.35% of Intapp at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Westfield Capital Management Co. LP acquired a new stake in Intapp in the second quarter valued at $38,657,000. Norges Bank acquired a new position in shares of Intapp during the 2nd quarter worth about $35,081,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Intapp by 90,094.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 533,951 shares of the company’s stock valued at $21,838,000 after acquiring an additional 533,359 shares during the last quarter. Capital World Investors increased its holdings in shares of Intapp by 13.5% in the 3rd quarter. Capital World Investors now owns 2,892,169 shares of the company’s stock valued at $118,290,000 after acquiring an additional 343,914 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Intapp by 25.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,331,580 shares of the company’s stock worth $68,736,000 after acquiring an additional 270,214 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.
Intapp Price Performance
Intapp stock opened at $25.65 on Friday. The business has a 50 day simple moving average of $30.67 and a 200-day simple moving average of $38.37. Intapp, Inc. has a 12 month low of $19.24 and a 12 month high of $64.31. The stock has a market capitalization of $2.06 billion, a PE ratio of -85.50, a price-to-earnings-growth ratio of 107.98 and a beta of 0.73.
Intapp declared that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
Insider Activity
In other news, CEO John T. Hall sold 8,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $47.48, for a total transaction of $379,840.00. Following the transaction, the chief executive officer directly owned 5,711,668 shares in the company, valued at $271,189,996.64. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.21% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms recently weighed in on INTA. JPMorgan Chase & Co. decreased their target price on Intapp from $70.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Citigroup cut their price objective on shares of Intapp from $49.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Oppenheimer restated a “market perform” rating on shares of Intapp in a research report on Thursday, February 26th. Barclays lowered their target price on shares of Intapp from $46.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday, February 4th. Finally, Stifel Nicolaus cut their price target on shares of Intapp from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.71.
View Our Latest Analysis on INTA
About Intapp
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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