Intapp (NASDAQ:INTA) Hits New 12-Month High on Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA) shares reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $58.00 to $75.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Intapp traded as high as $68.88 and last traded at $68.26, with a volume of 72804 shares traded. The stock had previously closed at $66.46.

A number of other analysts also recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $55.00 price target (up from $47.00) on shares of Intapp in a research report on Tuesday, November 5th. Raymond James lifted their target price on shares of Intapp from $46.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Citigroup lifted their target price on Intapp from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Barclays boosted their price objective on shares of Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price objective on shares of Intapp from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.09.

Insider Buying and Selling

In other Intapp news, CFO David H. Morton, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $64.83, for a total transaction of $648,300.00. Following the completion of the transaction, the chief financial officer now directly owns 17,331 shares of the company’s stock, valued at approximately $1,123,568.73. This represents a 36.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John T. Hall sold 61,842 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $59.68, for a total value of $3,690,730.56. Following the transaction, the chief executive officer now owns 5,030,432 shares of the company’s stock, valued at $300,216,181.76. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 403,215 shares of company stock worth $22,106,070 in the last quarter. Insiders own 13.02% of the company’s stock.

Institutional Trading of Intapp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Luxor Capital Group LP purchased a new position in Intapp during the third quarter valued at approximately $47,837,000. FMR LLC raised its position in shares of Intapp by 7.8% in 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 stake 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 valued at $71,392,000 after buying an additional 343,275 shares during the period. Clearbridge Investments LLC grew its position in Intapp by 64.0% during the second quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock worth $28,319,000 after buying an additional 301,238 shares in the last quarter. Finally, Praesidium Investment Management Company LLC increased its stake in Intapp by 15.3% in the 3rd quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company’s stock worth $92,316,000 after acquiring an additional 256,327 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Intapp Trading Up 2.7 %

The stock has a market cap of $5.28 billion, a PE ratio of -235.00 and a beta of 0.74. The firm has a fifty day simple moving average of $54.26 and a two-hundred day simple moving average of $44.21.

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

About Intapp

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.