Intapp (NASDAQ:INTA) Trading 17.4% Higher After Analyst Upgrade

Intapp, Inc. (NASDAQ:INTA) shot up 17.4% during mid-day trading on Wednesday after Raymond James raised their price target on the stock from $46.00 to $55.00. Raymond James currently has an outperform rating on the stock. Intapp traded as high as $59.28 and last traded at $59.24. 1,165,059 shares changed hands during trading, an increase of 80% from the average session volume of 646,383 shares. The stock had previously closed at $50.47.

Other analysts also recently issued reports about the company. Bank of America decreased their price target on Intapp from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Intapp in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their price target on Intapp from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays lifted their price target on Intapp from $44.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.55.

Insider Activity at Intapp

In related news, insider Thad Jampol sold 31,666 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.09, for a total value of $1,554,483.94. Following the transaction, the insider now owns 772,412 shares in the company, valued at $37,917,705.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Thad Jampol sold 31,666 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.09, for a total value of $1,554,483.94. Following the transaction, the insider now owns 772,412 shares in the company, valued at $37,917,705.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Donald F. Coleman sold 58,003 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $49.31, for a total value of $2,860,127.93. Following the completion of the transaction, the chief operating officer now owns 668,239 shares in the company, valued at $32,950,865.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,239 shares of company stock worth $7,360,981 in the last quarter. Company insiders own 13.02% of the company’s stock.

Hedge Funds Weigh In On Intapp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Intapp by 42.7% during the 1st quarter. Vanguard Group Inc. now owns 5,014,640 shares of the company’s stock worth $172,002,000 after acquiring an additional 1,501,091 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Intapp during the 1st quarter worth approximately $16,156,000. Jane Street Group LLC boosted its stake in shares of Intapp by 766.2% during the 1st quarter. Jane Street Group LLC now owns 166,456 shares of the company’s stock worth $5,709,000 after acquiring an additional 147,240 shares in the last quarter. Swiss National Bank boosted its stake in shares of Intapp by 58.1% during the 1st quarter. Swiss National Bank now owns 86,500 shares of the company’s stock worth $2,967,000 after acquiring an additional 31,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Intapp by 18.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 686,496 shares of the company’s stock worth $25,173,000 after acquiring an additional 106,668 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Intapp Trading Up 17.4 %

The company has a 50 day moving average price of $47.75 and a 200 day moving average price of $39.93. The firm has a market cap of $4.56 billion, a PE ratio of -126.33 and a beta of 0.64.

Intapp (NASDAQ:INTA) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Intapp had a negative return on equity of 5.36% and a negative net margin of 7.44%. The business had revenue of $118.81 million for the quarter, compared to analyst estimates of $117.88 million. During the same quarter in the previous year, the company earned ($0.20) EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that Intapp, Inc. will post -0.15 earnings per share 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.