Public Employees Retirement System of Ohio Sells 855 Shares of Informatica Inc. (NYSE:INFA)

Public Employees Retirement System of Ohio lessened its position in Informatica Inc. (NYSE:INFA) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 23,493 shares of the technology company’s stock after selling 855 shares during the period. Public Employees Retirement System of Ohio’s holdings in Informatica were worth $594,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Quarry LP bought a new position in Informatica in the 3rd quarter valued at $38,000. National Bank of Canada FI grew its holdings in shares of Informatica by 3,288.0% in the third quarter. National Bank of Canada FI now owns 1,694 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,644 shares during the last quarter. Summit Securities Group LLC purchased a new position in Informatica in the 2nd quarter worth about $46,000. Amalgamated Bank lifted its holdings in Informatica by 42.1% during the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock valued at $108,000 after buying an additional 1,037 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in Informatica in the 3rd quarter valued at about $149,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Informatica Stock Up 2.8 %

Shares of INFA stock opened at $26.86 on Friday. The stock’s fifty day moving average price is $26.36 and its 200 day moving average price is $26.28. Informatica Inc. has a 1-year low of $22.08 and a 1-year high of $39.80. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 127.91, a price-to-earnings-growth ratio of 5.68 and a beta of 1.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17.

Informatica announced that its board has initiated a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Truist Financial initiated coverage on Informatica in a research report on Thursday, December 12th. They set a “buy” rating and a $34.00 target price for the company. Guggenheim reissued a “buy” rating on shares of Informatica in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Informatica has an average rating of “Moderate Buy” and an average target price of $33.27.

Insider Transactions at Informatica

In related news, CAO Mark Pellowski sold 10,026 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total transaction of $268,295.76. Following the completion of the transaction, the chief accounting officer now directly owns 142,671 shares in the company, valued at $3,817,875.96. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Arthur Schweitzer sold 10,734 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $27.05, for a total value of $290,354.70. Following the sale, the executive vice president now directly owns 353,778 shares in the company, valued at $9,569,694.90. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,296 shares of company stock worth $1,057,684 over the last three months. 48.10% of the stock is currently owned by insiders.

About Informatica

Informatica Inc develops an artificial intelligence-powered platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at enterprise scale worldwide. Its platform includes a suite of interoperable data management products, including data integration products to ingest, transform, and integrate data; API and application integration products that enable users to create and manage APIs and integration processes for app-to-app synchronization, business process orchestration, B2B partner management, application development, and API management; data quality and observability products to profile, cleanse, standardize, observe, and monitor data to deliver accurate, complete, and consistent data; and master data management products to create an authoritative single source of truth of business-critical data.