Intapp (NASDAQ:INTA) Reaches New 52-Week High on Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA) shares reached a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from $45.00 to $60.00. Stifel Nicolaus currently has a buy rating on the stock. Intapp traded as high as $49.99 and last traded at $49.63, with a volume of 56374 shares trading hands. The stock had previously closed at $49.00.

Other research analysts have also recently issued reports about the company. Oppenheimer reaffirmed a “market perform” rating on shares of Intapp in a research report on Monday, July 8th. Barclays upped their price target on Intapp from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and issued a $46.00 price objective on shares of Intapp in a report on Wednesday, August 14th. Bank of America reduced their target price on shares of Intapp from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Finally, Citigroup lifted their price target on shares of Intapp from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.78.

Insider Activity at Intapp

In other news, COO Donald F. Coleman sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $36.49, for a total transaction of $182,450.00. Following the transaction, the chief operating officer now directly owns 648,411 shares in the company, valued at approximately $23,660,517.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Donald F. Coleman sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $36.49, for a total value of $182,450.00. Following the completion of the sale, the chief operating officer now directly owns 648,411 shares of the company’s stock, valued at $23,660,517.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thad Jampol sold 15,000 shares of Intapp stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $34.92, for a total value of $523,800.00. Following the transaction, the insider now owns 749,652 shares of the company’s stock, valued at $26,177,847.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,000 shares of company stock valued at $880,950. 36.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intapp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC boosted its holdings in shares of 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 acquiring an additional 301,238 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in Intapp by 384.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 69,718 shares of the company’s stock worth $2,557,000 after purchasing an additional 55,318 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Intapp by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,551 shares of the company’s stock valued at $900,000 after purchasing an additional 2,891 shares during the period. Millennium Management LLC grew its holdings in Intapp by 30.1% in the 2nd quarter. Millennium Management LLC now owns 357,437 shares of the company’s stock valued at $13,107,000 after buying an additional 82,761 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in Intapp by 18.3% during the 2nd quarter. Squarepoint Ops LLC now owns 135,517 shares of the company’s stock worth $4,969,000 after buying an additional 20,972 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Intapp Stock Up 1.3 %

The stock has a fifty day moving average price of $40.24 and a two-hundred day moving average price of $36.38. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -80.33 and a beta of 0.65.

Intapp (NASDAQ:INTA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Intapp had a negative net margin of 7.44% and a negative return on equity of 5.36%. The business had revenue of $114.38 million during the quarter, compared to analysts’ expectations of $111.58 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s revenue was up 20.9% on a year-over-year basis. Analysts predict that Intapp, Inc. will post -0.15 earnings per share for the current fiscal 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.