Intapp (NASDAQ:INTA) Trading 6% Higher Following Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA)’s stock price shot up 6% during trading on Tuesday after UBS Group raised their price target on the stock from $84.00 to $89.00. UBS Group currently has a buy rating on the stock. Intapp traded as high as $71.07 and last traded at $71.71. 98,397 shares changed hands during trading, a decline of 83% from the average session volume of 569,484 shares. The stock had previously closed at $67.62.

INTA has been the subject of several other reports. Stifel Nicolaus lifted their target price on Intapp from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Raymond James reissued a “market perform” rating on shares of Intapp in a report on Friday, January 3rd. Truist Financial upped their target price on shares of Intapp from $55.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays lifted their price target on shares of Intapp from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intapp from $58.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.36.

Insider Activity at Intapp

In other Intapp news, insider Thad Jampol sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $61.85, for a total value of $1,237,000.00. Following the completion of the transaction, the insider now directly owns 828,197 shares in the company, valued at $51,223,984.45. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Donald F. Coleman sold 35,778 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $54.23, for a total value of $1,940,240.94. Following the completion of the sale, the chief operating officer now directly owns 668,239 shares of the company’s stock, valued at approximately $36,238,600.97. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 402,624 shares of company stock valued at $24,954,154. 13.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Intapp

Large investors have recently modified their holdings of the stock. FORA Capital LLC acquired a new position in shares of Intapp in the third quarter valued at approximately $566,000. Loomis Sayles & Co. L P boosted its stake in Intapp by 29.9% in 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 purchasing an additional 343,275 shares during the period. Farther Finance Advisors LLC grew its holdings in 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 position in Intapp by 90.1% during the 3rd 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 period. Finally, Algert Global LLC acquired a new stake in shares of Intapp during the third quarter worth $468,000. 89.96% of the stock is owned by institutional investors.

Intapp Price Performance

The stock’s 50-day moving average price is $65.50 and its 200-day moving average price is $52.35. The company has a market cap of $5.61 billion, a P/E ratio of -250.00 and a beta of 0.73.

Intapp (NASDAQ:INTA) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 business had revenue of $118.81 million during the quarter, compared to analysts’ expectations of $117.88 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, analysts expect that Intapp, Inc. will post -0.14 EPS for the current fiscal 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.