Intapp (NASDAQ:INTA) Sees Unusually-High Trading Volume on Strong Earnings

Intapp, Inc. (NASDAQ:INTA) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 1,358,935 shares were traded during mid-day trading, an increase of 128% from the previous session’s volume of 595,004 shares.The stock last traded at $29.2590 and had previously closed at $33.64.

The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Intapp had a negative return on equity of 1.58% and a negative net margin of 5.35%.The company had revenue of $140.21 million for the quarter, compared to the consensus estimate of $138.20 million.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler set a $42.00 target price on shares of Intapp and gave the stock a “neutral” rating in a research note on Monday, October 20th. Stifel Nicolaus set a $50.00 price objective on Intapp in a report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on Intapp from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intapp in a report on Monday, December 29th. Finally, Barclays upped their price objective on Intapp from $43.00 to $46.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.29.

Insider Buying and Selling at Intapp

In related news, CFO David H. Morton, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $40.76, for a total value of $407,600.00. Following the sale, the chief financial officer directly owned 43,765 shares in the company, valued at $1,783,861.40. The trade was a 18.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John T. Hall sold 22,243 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $40.76, for a total transaction of $906,624.68. Following the completion of the sale, the chief executive officer directly owned 5,711,668 shares in the company, valued at approximately $232,807,587.68. The trade was a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 48,243 shares of company stock valued at $2,070,785. 11.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intapp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Intapp by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,804,903 shares of the company’s stock worth $278,321,000 after purchasing an additional 25,702 shares in the last quarter. Capital World Investors grew its holdings in Intapp by 13.5% during the 3rd quarter. Capital World Investors now owns 2,892,169 shares of the company’s stock valued at $118,290,000 after buying an additional 343,914 shares during the last quarter. Bamco Inc. NY grew its holdings in Intapp by 6.7% during the 3rd quarter. Bamco Inc. NY now owns 2,880,950 shares of the company’s stock valued at $117,831,000 after buying an additional 181,073 shares during the last quarter. Wellington Management Group LLP increased its position in Intapp by 143.7% during the third quarter. Wellington Management Group LLP now owns 1,891,556 shares of the company’s stock worth $77,365,000 after buying an additional 1,115,392 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Intapp by 3.7% in the fourth quarter. Jennison Associates LLC now owns 1,831,625 shares of the company’s stock worth $83,925,000 after acquiring an additional 65,174 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Intapp Price Performance

The firm has a market capitalization of $2.40 billion, a PE ratio of -81.41, a P/E/G ratio of 57.09 and a beta of 0.68. The company has a 50-day moving average price of $42.47 and a 200-day moving average price of $41.71.

About Intapp

Intapp, Inc, headquartered in Palo Alto, California, is a leading provider of cloud-based software solutions designed to meet the unique needs of professional services firms, including law firms, accounting practices, and financial institutions. The company’s integrated platform connects front-office business development with back-office risk and compliance functions, enabling organizations to streamline workflows, improve collaboration and enhance client service.

Intapp’s suite of applications—such as Intake, Conflicts, Risk, Open, Time and Flow—addresses the entire client lifecycle.