Bank of America Corp DE Trims Stake in Intapp, Inc. (NASDAQ:INTA)

Bank of America Corp DE trimmed its position in Intapp, Inc. (NASDAQ:INTA) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 786,440 shares of the company’s stock after selling 113,224 shares during the quarter. Bank of America Corp DE’s holdings in Intapp were worth $50,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTA. Victory Capital Management Inc. lifted its stake in Intapp by 2.0% in the fourth quarter. Victory Capital Management Inc. now owns 8,652 shares of the company’s stock worth $555,000 after acquiring an additional 171 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Intapp by 8.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,964 shares of the company’s stock worth $190,000 after purchasing an additional 239 shares during the period. Global Retirement Partners LLC bought a new position in shares of Intapp during the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. purchased a new position in Intapp during the fourth quarter valued at approximately $25,000. Finally, Amalgamated Bank raised its stake in Intapp by 30.0% in the fourth quarter. Amalgamated Bank now owns 1,819 shares of the company’s stock worth $117,000 after buying an additional 420 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on INTA shares. UBS Group dropped their price objective on Intapp from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on shares of Intapp from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Barclays lowered their price objective on Intapp from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Truist Financial reduced their target price on Intapp from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup restated a “neutral” rating on shares of Intapp in a research note on Monday, April 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.89.

Insider Transactions at Intapp

In other news, insider Thad Jampol sold 5,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $56.65, for a total transaction of $283,250.00. Following the transaction, the insider now owns 857,250 shares in the company, valued at $48,563,212.50. This trade represents a 0.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David H. Morton, Jr. sold 5,445 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $68.83, for a total transaction of $374,779.35. Following the completion of the sale, the chief financial officer now directly owns 38,996 shares of the company’s stock, valued at approximately $2,684,094.68. The trade was a 12.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,755 shares of company stock valued at $17,372,011 in the last ninety days. 13.02% of the stock is currently owned by corporate insiders.

Intapp Price Performance

NASDAQ INTA opened at $56.61 on Wednesday. Intapp, Inc. has a 1 year low of $31.08 and a 1 year high of $77.74. The company has a market capitalization of $4.58 billion, a PE ratio of -195.20 and a beta of 0.84. The company has a fifty day moving average of $56.12 and a 200 day moving average of $61.69.

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

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.