State Street Corp Purchases 210,843 Shares of Informatica Inc. (NYSE:INFA)

State Street Corp grew its position in Informatica Inc. (NYSE:INFA) by 25.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,051,013 shares of the technology company’s stock after purchasing an additional 210,843 shares during the quarter. State Street Corp’s holdings in Informatica were worth $26,570,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Informatica by 62.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company’s stock valued at $15,571,000 after purchasing an additional 237,876 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new position in shares of Informatica during the 3rd quarter worth $2,781,000. Bank of Montreal Can acquired a new position in shares of Informatica during the 2nd quarter worth $2,442,000. Allspring Global Investments Holdings LLC lifted its position in shares of Informatica by 11.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,411,822 shares of the technology company’s stock worth $43,597,000 after buying an additional 141,163 shares during the last quarter. Finally, Fred Alger Management LLC boosted its stake in Informatica by 63.3% in the second quarter. Fred Alger Management LLC now owns 794,084 shares of the technology company’s stock valued at $24,521,000 after buying an additional 307,803 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

INFA has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial assumed coverage on shares of Informatica in a research report on Thursday, December 12th. They set a “buy” rating and a $34.00 price objective for the company. Guggenheim restated a “buy” rating on shares of Informatica in a research report on Friday, October 18th. Finally, UBS Group upped their price target on shares of Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Informatica presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.27.

Informatica Price Performance

INFA stock opened at $26.86 on Monday. The company has a market capitalization of $8.20 billion, a P/E ratio of 127.91, a PEG ratio of 5.68 and a beta of 1.00. The company has a fifty day moving average price of $26.36 and a 200-day moving average price of $26.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.17 and a current ratio of 2.17. Informatica Inc. has a 52-week low of $22.08 and a 52-week high of $39.80.

Informatica declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Informatica

In other Informatica news, CAO Mark Pellowski sold 10,035 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $27.06, for a total transaction of $271,547.10. Following the completion of the transaction, the chief accounting officer now owns 138,477 shares in the company, valued at approximately $3,747,187.62. This trade represents a 6.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Arthur Schweitzer sold 10,734 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $27.05, for a total transaction of $290,354.70. Following the completion of the transaction, the executive vice president now owns 353,778 shares in the company, valued at $9,569,694.90. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,296 shares of company stock worth $1,057,684 over the last three months. Company insiders own 48.10% of the company’s stock.

Informatica Profile

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.