Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in Intapp, Inc. (NASDAQ:INTA)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Intapp, Inc. (NASDAQ:INTA - Free Report) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,456 shares of the company's stock after selling 36,145 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Intapp worth $9,835,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Luxor Capital Group LP bought a new stake in Intapp during the third quarter worth approximately $47,837,000. FMR LLC boosted its holdings in Intapp by 7.8% during the third quarter. FMR LLC now owns 5,658,957 shares of the company's stock worth $270,668,000 after buying an additional 411,434 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Intapp by 29.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,492,620 shares of the company's stock worth $71,392,000 after buying an additional 343,275 shares in the last quarter. Praesidium Investment Management Company LLC boosted its holdings in Intapp by 15.3% during the third quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company's stock worth $92,316,000 after buying an additional 256,327 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Intapp during the fourth quarter worth approximately $12,870,000. 89.96% of the stock is currently owned by institutional investors.

Intapp Price Performance

Intapp stock traded up $1.08 during midday trading on Friday, hitting $59.28. The company's stock had a trading volume of 470,500 shares, compared to its average volume of 643,118. Intapp, Inc. has a 1-year low of $30.36 and a 1-year high of $77.74. The company has a 50-day moving average price of $67.24 and a two-hundred day moving average price of $59.22. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -204.41 and a beta of 0.76.

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Intapp (NASDAQ:INTA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.25). Intapp had a negative net margin of 4.78% and a negative return on equity of 1.86%. Sell-side analysts forecast that Intapp, Inc. will post -0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $71.00 price objective (up previously from $60.00) on shares of Intapp in a research note on Tuesday, February 4th. Citigroup reaffirmed a "neutral" rating and issued a $78.00 price objective (down previously from $87.00) on shares of Intapp in a research note on Thursday, January 16th. Truist Financial raised their price objective on shares of Intapp from $55.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. UBS Group raised their price objective on shares of Intapp from $89.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus increased their target price on shares of Intapp from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Intapp presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.45.

Insider Transactions at Intapp

In related news, CFO David H. Morton, Jr. sold 5,445 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $68.83, for a total value of $374,779.35. Following the transaction, the chief financial officer now directly owns 38,996 shares in the company, valued at approximately $2,684,094.68. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John T. Hall sold 8,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $57.15, for a total transaction of $457,200.00. Following the transaction, the chief executive officer now owns 5,236,895 shares in the company, valued at $299,288,549.25. The trade was a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,447 shares of company stock worth $15,186,622 in the last quarter. 13.02% of the stock is currently owned by corporate insiders.

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.