Intapp (NASDAQ:INTA) Hits New 1-Year High – Here’s Why

Shares of Intapp, Inc. (NASDAQ:INTA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $72.00 and last traded at $69.48, with a volume of 96497 shares changing hands. The stock had previously closed at $70.18.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. upped their price target on shares of Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Barclays raised their price objective on shares of Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Truist Financial boosted their target price on shares of Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler restated an “overweight” rating and set a $60.00 target price (up from $46.00) on shares of Intapp in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.82.

Intapp Price Performance

The company’s 50-day moving average is $64.72 and its 200 day moving average is $51.38.

Intapp (NASDAQ:INTA) last released its earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $117.88 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts forecast that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, CMO Scott Fitzgerald sold 3,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $63.53, for a total value of $190,590.00. Following the completion of the sale, the chief marketing officer now directly owns 42,212 shares of the company’s stock, valued at $2,681,728.36. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ralph Baxter sold 9,289 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $70.14, for a total transaction of $651,530.46. Following the transaction, the director now directly owns 9,441 shares in the company, valued at $662,191.74. The trade was a 49.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 402,624 shares of company stock worth $24,954,154. 13.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intapp

A number of hedge funds have recently modified their holdings of INTA. FORA Capital LLC purchased a new position in Intapp in the third quarter valued at about $566,000. Loomis Sayles & Co. L P lifted its holdings in shares of Intapp by 29.9% during the 3rd 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 last quarter. Farther Finance Advisors LLC grew its stake in shares of Intapp by 1,054.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock valued at $28,000 after buying an additional 527 shares in the last quarter. Barclays PLC increased its holdings in Intapp by 90.1% in the third quarter. Barclays PLC now owns 106,781 shares of the company’s stock worth $5,108,000 after buying an additional 50,607 shares during the last quarter. Finally, Algert Global LLC bought a new position in Intapp during the third quarter valued at approximately $468,000. 89.96% of the stock is owned by institutional investors and hedge funds.

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.