Intapp (NASDAQ:INTA) Shares Up 5.8% – Here’s Why

Intapp, Inc. (NASDAQ:INTA)’s share price rose 5.8% on Friday . The company traded as high as $67.12 and last traded at $67.04. Approximately 238,205 shares were traded during trading, a decline of 47% from the average daily volume of 450,215 shares. The stock had previously closed at $63.34.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INTA. Raymond James reissued a “market perform” rating on shares of Intapp in a research note on Friday, January 3rd. Truist Financial boosted their price target on shares of Intapp from $55.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Citigroup lifted their price objective on shares of Intapp from $63.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. upped their target price on shares of Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price target (up previously from $46.00) on shares of Intapp in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Intapp currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.64.

Intapp Stock Performance

The company has a market cap of $5.21 billion, a P/E ratio of -232.14 and a beta of 0.73. The business’s fifty day moving average is $62.40 and its two-hundred day moving average is $49.18.

Intapp (NASDAQ:INTA) last issued 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. The business had revenue of $118.81 million during the quarter, compared to analysts’ expectations of $117.88 million. Intapp had a negative return on equity of 2.08% and a negative net margin of 4.74%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) EPS. Analysts expect that Intapp, Inc. will post -0.14 EPS for the current fiscal year.

Insider Activity

In other news, COO Donald F. Coleman sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $49.23, for a total value of $246,150.00. Following the completion of the sale, the chief operating officer now owns 668,239 shares of the company’s stock, valued at $32,897,405.97. This trade represents a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thad Jampol sold 20,174 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $59.30, for a total transaction of $1,196,318.20. Following the transaction, the insider now owns 803,400 shares in the company, 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 quarter, insiders sold 387,624 shares of company stock worth $23,963,304. 13.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intapp

Several hedge funds have recently made changes to their positions in INTA. FMR LLC increased its holdings in shares of Intapp by 7.8% in the third quarter. FMR LLC now owns 5,658,957 shares of the company’s stock valued at $270,668,000 after purchasing an additional 411,434 shares during the period. Bamco Inc. NY increased its holdings in Intapp by 1.2% in the 3rd quarter. Bamco Inc. NY now owns 2,850,455 shares of the company’s stock worth $136,337,000 after buying an additional 34,409 shares during the period. Praesidium Investment Management Company LLC raised its position in Intapp by 15.3% during the 3rd quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company’s stock worth $92,316,000 after buying an additional 256,327 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in 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 acquiring an additional 343,275 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Intapp by 9.9% in the third quarter. Geode Capital Management LLC now owns 1,051,237 shares of the company’s stock worth $50,291,000 after acquiring an additional 95,035 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

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.