Intapp (NASDAQ:INTA) Hits New 52-Week High – Time to Buy?

Intapp, Inc. (NASDAQ:INTA) reached a new 52-week high on Wednesday . The company traded as high as $72.91 and last traded at $72.50, with a volume of 732436 shares trading hands. The stock had previously closed at $67.62.

Wall Street Analyst Weigh In

A number of research analysts have commented on INTA shares. Stifel Nicolaus raised their price target on shares of Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $60.00 price target (up previously from $46.00) on shares of Intapp in a research note on Tuesday, November 5th. Citigroup reiterated a “neutral” rating and set a $78.00 price objective (down from $87.00) on shares of Intapp in a research note on Thursday, January 16th. UBS Group boosted their target price on shares of Intapp from $84.00 to $89.00 and gave the company a “buy” rating in a research note on Monday. Finally, Raymond James reiterated a “market perform” rating on shares of Intapp in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intapp currently has an average rating of “Moderate Buy” and an average target price of $63.36.

Intapp Stock Up 1.3 %

The company has a market capitalization of $5.61 billion, a P/E ratio of -250.17 and a beta of 0.73. The firm has a fifty day simple moving average of $66.03 and a 200-day simple moving average of $52.63.

Intapp (NASDAQ:INTA) last posted its earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Intapp’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. On average, sell-side analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ralph Baxter sold 9,289 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $70.14, for a total value of $651,530.46. Following the transaction, the director now owns 9,441 shares of the company’s stock, valued at approximately $662,191.74. This represents a 49.59 % 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 this link. Also, insider Thad Jampol sold 20,000 shares of Intapp 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 sale, the insider now directly owns 828,197 shares of the company’s stock, valued at approximately $51,223,984.45. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 402,624 shares of company stock worth $24,954,154. Company insiders own 13.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INTA. Luxor Capital Group LP bought a new stake in shares of Intapp in the third quarter valued at about $47,837,000. FMR LLC boosted its holdings in Intapp by 7.8% in the 3rd 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. Loomis Sayles & Co. L P boosted its holdings 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. Clearbridge Investments LLC grew its position in shares of Intapp by 64.0% during the 2nd quarter. Clearbridge Investments LLC now owns 772,255 shares of the company’s stock worth $28,319,000 after purchasing an additional 301,238 shares in the last quarter. Finally, Praesidium Investment Management Company LLC increased its holdings in shares of Intapp by 15.3% during the third quarter. Praesidium Investment Management Company LLC now owns 1,930,095 shares of the company’s stock worth $92,316,000 after purchasing an additional 256,327 shares during the period. Institutional investors own 89.96% of the company’s stock.

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.