Intapp (NASDAQ:INTA) Reaches New 12-Month High – Still a Buy?

Shares of Intapp, Inc. (NASDAQ:INTA) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $61.37 and last traded at $61.32, with a volume of 412900 shares trading hands. The stock had previously closed at $59.92.

Analyst Ratings Changes

A number of research firms have commented on INTA. Citigroup lifted their target price on Intapp from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Piper Sandler reissued an “overweight” rating and set a $60.00 price target (up from $46.00) on shares of Intapp in a report on Tuesday, November 5th. Bank of America cut their price objective on Intapp from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. UBS Group increased their target price on Intapp from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Raymond James upped their price target 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. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.55.

Intapp Trading Up 2.3 %

The business’s 50 day simple moving average is $51.57 and its 200 day simple moving average is $42.52. The firm has a market capitalization of $4.75 billion, a PE ratio of -206.62 and a beta of 0.64.

Intapp (NASDAQ:INTA) last issued its quarterly earnings data 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 company had revenue of $118.81 million for 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 firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) earnings per share. Analysts forecast that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insider Activity

In other Intapp news, insider Thad Jampol sold 31,666 shares of Intapp stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.09, for a total value of $1,554,483.94. Following the transaction, the insider now directly owns 772,412 shares of the company’s stock, valued at approximately $37,917,705.08. The trade was a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michele Murgel sold 1,252 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $62,600.00. Following the completion of the sale, the insider now directly owns 152,702 shares of the company’s stock, valued at $7,635,100. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 390,215 shares of company stock valued at $21,267,180. Corporate insiders own 13.02% of the company’s stock.

Hedge Funds Weigh In On Intapp

Several hedge funds and other institutional investors have recently modified their holdings of INTA. Sei Investments Co. raised its holdings in shares of Intapp by 13.4% during the first quarter. Sei Investments Co. now owns 13,858 shares of the company’s stock worth $475,000 after purchasing an additional 1,638 shares during the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 1,501,091 shares during the period. American International Group Inc. increased its holdings in shares of Intapp by 42.6% during the 1st quarter. American International Group Inc. now owns 19,642 shares of the company’s stock valued at $674,000 after purchasing an additional 5,864 shares in the last quarter. Shell Asset Management Co. purchased a new stake in Intapp during the first quarter worth $179,000. Finally, Advisors Asset Management Inc. grew its position in Intapp by 239.1% during the first quarter. Advisors Asset Management Inc. now owns 824 shares of the company’s stock valued at $28,000 after buying an additional 581 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.