Intapp (NASDAQ:INTA) Hits New 52-Week High Following Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA)’s share price hit a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $89.00 to $92.00. UBS Group currently has a buy rating on the stock. Intapp traded as high as $75.90 and last traded at $74.19, with a volume of 261299 shares changing hands. The stock had previously closed at $70.52.

Several other research analysts have also recently issued reports on INTA. Barclays lifted their target price on Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Raymond James reiterated a “market perform” rating on shares of Intapp in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price target on Intapp from $58.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Citigroup restated a “neutral” rating and issued a $78.00 target price (down from $87.00) on shares of Intapp in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.64.

Insider Transactions at Intapp

In other Intapp news, CMO Scott Fitzgerald sold 5,221 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $59.30, for a total transaction of $309,605.30. Following the completion of the transaction, the chief marketing officer now owns 46,552 shares of the company’s stock, valued at $2,760,533.60. This represents a 10.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thad Jampol sold 20,174 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $59.30, for a total value of $1,196,318.20. Following the transaction, the insider now directly owns 803,400 shares of the company’s stock, valued at approximately $47,641,620. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 402,624 shares of company stock worth $24,954,154. 13.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Intapp

Institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB lifted its position in Intapp by 116.9% during the fourth quarter. Handelsbanken Fonder AB now owns 12,800 shares of the company’s stock valued at $820,000 after purchasing an additional 6,900 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Intapp during the fourth quarter valued at $25,000. New York State Common Retirement Fund lifted its position in Intapp by 26.3% during the fourth quarter. New York State Common Retirement Fund now owns 280,102 shares of the company’s stock valued at $17,952,000 after purchasing an additional 58,294 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Intapp during the fourth quarter valued at $305,000. Finally, Truist Financial Corp purchased a new position in shares of Intapp in the fourth quarter valued at about $349,000. Institutional investors own 89.96% of the company’s stock.

Intapp Price Performance

The company has a 50-day moving average price of $66.46 and a 200 day moving average price of $53.36. The firm has a market capitalization of $5.68 billion, a PE ratio of -252.12 and a beta of 0.74.

Intapp (NASDAQ:INTA) last posted its earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Intapp had a negative return on equity of 2.08% and a negative net margin of 4.74%. The company had revenue of $118.81 million for the quarter, compared to the consensus estimate of $117.88 million. During the same period in the previous year, the business earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts anticipate that Intapp, Inc. will post -0.14 earnings per share for the current year.

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.