Guggenheim Reaffirms Buy Rating for Informatica (NYSE:INFA)

Guggenheim reaffirmed their buy rating on shares of Informatica (NYSE:INFA) in a report released on Friday,Benzinga reports. Guggenheim currently has a $37.00 price objective on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. UBS Group raised their target price 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. JPMorgan Chase & Co. decreased their price objective on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Cantor Fitzgerald initiated coverage on shares of Informatica in a research note on Friday, January 17th. They set a “neutral” rating and a $29.00 price objective on the stock. Finally, Truist Financial initiated coverage on shares of Informatica in a research note on Thursday, December 12th. They issued a “buy” rating and a $34.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.92.

Informatica Stock Up 0.2 %

Informatica stock opened at $25.68 on Friday. The company has a fifty day simple moving average of $25.97 and a 200 day simple moving average of $25.43. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75. Informatica has a 1-year low of $22.08 and a 1-year high of $39.80. The company has a market cap of $7.84 billion, a P/E ratio of 122.29, a price-to-earnings-growth ratio of 3.63 and a beta of 0.99.

Informatica announced 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 outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CAO Mark Pellowski sold 10,035 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 138,477 shares of the company’s stock, valued at $3,747,187.62. This represents a 6.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Arthur Schweitzer sold 10,734 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $27.05, for a total transaction of $290,354.70. Following the transaction, the executive vice president now owns 353,778 shares in the company, valued at $9,569,694.90. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 48.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INFA. Allspring Global Investments Holdings LLC raised its holdings in shares of Informatica by 398.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company’s stock worth $178,046,000 after acquiring an additional 5,631,139 shares during the last quarter. Wellington Management Group LLP increased its holdings in Informatica by 29.9% during the 3rd quarter. Wellington Management Group LLP now owns 11,564,047 shares of the technology company’s stock worth $292,339,000 after purchasing an additional 2,662,379 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Informatica by 826.8% in the third quarter. JPMorgan Chase & Co. now owns 1,484,147 shares of the technology company’s stock worth $37,519,000 after purchasing an additional 1,324,006 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Informatica by 34.5% in the third quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company’s stock valued at $30,677,000 after purchasing an additional 311,003 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 buying an additional 237,876 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Informatica Company 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.