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

Intapp, Inc. (NASDAQ:INTA) traded up 17.4% 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 traded hands during mid-day trading, an increase of 80% from the average session volume of 646,383 shares. The stock had previously closed at $50.47.

Several other analysts have also weighed in on the stock. Bank of America lowered their target price on shares of Intapp from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of Intapp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group raised their target price on shares of Intapp from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Intapp in a report on Monday, July 8th. Finally, Truist Financial reissued a “buy” rating and issued a $55.00 price target (up previously from $47.00) on shares of Intapp in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intapp has an average rating of “Moderate Buy” and an average target price of $53.55.

Insider Transactions at Intapp

In related news, COO Donald F. Coleman sold 58,003 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.31, for a total value of $2,860,127.93. Following the sale, the chief operating officer now directly owns 668,239 shares in the company, valued at $32,950,865.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Donald F. Coleman sold 58,003 shares of the stock in a transaction on Friday, September 20th. The stock was 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 of the company’s stock, valued at approximately $32,950,865.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Donald F. Coleman sold 30,318 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $49.43, for a total value of $1,498,618.74. Following the transaction, the chief operating officer now directly owns 668,239 shares in the company, valued at $33,031,053.77. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,239 shares of company stock worth $7,360,981. Company insiders own 13.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. J.Safra Asset Management Corp raised its holdings in Intapp by 634.0% during the second quarter. J.Safra Asset Management Corp now owns 712 shares of the company’s stock worth $26,000 after purchasing an additional 615 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Intapp by 239.1% in the 1st quarter. Advisors Asset Management Inc. now owns 824 shares of the company’s stock worth $28,000 after buying an additional 581 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Intapp by 1,054.0% in the third quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock valued at $28,000 after buying an additional 527 shares during the period. Blue Trust Inc. acquired a new stake in shares of Intapp in the second quarter valued at $30,000. Finally, Comerica Bank boosted its stake in Intapp by 218.4% during the first quarter. Comerica Bank now owns 1,261 shares of the company’s stock valued at $43,000 after buying an additional 865 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Intapp Trading Up 16.4 %

The business has a fifty day moving average of $47.75 and a 200-day moving average of $39.93.

Intapp (NASDAQ:INTA) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. Intapp had a negative net margin of 4.74% and a negative return on equity of 2.15%. The company had revenue of $118.81 million for the quarter, compared to analysts’ expectations of $117.88 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The business’s revenue was up 17.0% compared to the same quarter last year. Analysts anticipate that Intapp, Inc. will post -0.15 EPS for the current 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.