HighTower Advisors LLC Makes New Investment in Intapp, Inc. (NASDAQ:INTA)

HighTower Advisors LLC bought a new stake in Intapp, Inc. (NASDAQ:INTA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,732 shares of the company’s stock, valued at approximately $2,097,000.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in Intapp by 7.8% during the 3rd quarter. FMR LLC now owns 5,658,957 shares of the company’s stock worth $270,668,000 after acquiring an additional 411,434 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of 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 purchasing an additional 343,275 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Intapp by 64.0% in the second quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock valued at $28,319,000 after purchasing an additional 301,238 shares in the last quarter. F M Investments LLC bought a new position in Intapp in the 2nd quarter worth approximately $7,006,000. Finally, Dai ichi Life Insurance Company Ltd acquired a new position in Intapp during the 3rd quarter worth $7,118,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intapp news, insider Thad Jampol sold 31,666 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.09, for a total transaction of $1,554,483.94. Following the sale, the insider now directly owns 772,412 shares in the company, valued at approximately $37,917,705.08. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michele Murgel sold 1,252 shares of Intapp stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $62,600.00. Following the completion of the transaction, the insider now directly owns 152,702 shares in the company, valued at approximately $7,635,100. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,215 shares of company stock worth $23,806,670 in the last 90 days. Corporate insiders own 13.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Truist Financial lifted their target price on Intapp from $55.00 to $77.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $60.00 price objective (up from $46.00) on shares of Intapp in a report on Tuesday, November 5th. Raymond James upped their target price on shares of Intapp from $46.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Citigroup lifted their price target on shares of Intapp from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus increased their price objective on shares of Intapp from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.09.

Intapp Stock Down 1.2 %

Shares of NASDAQ INTA opened at $68.63 on Friday. Intapp, Inc. has a twelve month low of $30.36 and a twelve month high of $71.34. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of -236.66 and a beta of 0.74. The company’s fifty day moving average is $56.35 and its 200-day moving average is $45.29.

Intapp (NASDAQ:INTA) last posted its earnings results on Monday, November 4th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $118.81 million for the quarter, compared to analyst estimates of $117.88 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, research analysts anticipate that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

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.