Share Buyback Plan Authorized by Informatica (NYSE:INFA)

Informatica (NYSE:INFA) announced that its Board of Directors has approved a share repurchase program on Wednesday, October 30th, RTT News reports. The company plans to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Informatica Price Performance

Shares of Informatica stock opened at $26.21 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.03 and a quick ratio of 2.03. Informatica has a one year low of $21.49 and a one year high of $39.80. The business’s 50 day simple moving average is $25.54 and its two-hundred day simple moving average is $27.45. The stock has a market capitalization of $7.94 billion, a P/E ratio of 127.24, a price-to-earnings-growth ratio of 5.38 and a beta of 1.06.

Informatica (NYSE:INFA) last released its earnings results on Tuesday, July 30th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $400.63 million for the quarter, compared to the consensus estimate of $402.97 million. Informatica had a net margin of 3.89% and a return on equity of 5.37%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. Analysts forecast that Informatica will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

INFA has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on Informatica from $39.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Scotiabank decreased their price target on shares of Informatica from $33.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on Informatica from $40.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Guggenheim restated a “buy” rating on shares of Informatica in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.45.

Insiders Place Their Bets

In other news, EVP John Arthur Schweitzer sold 8,501 shares of Informatica stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total transaction of $227,486.76. Following the transaction, the executive vice president now owns 393,686 shares in the company, valued at $10,535,037.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP John Arthur Schweitzer sold 8,501 shares of the company’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 $227,486.76. Following the completion of the transaction, the executive vice president now owns 393,686 shares in the company, valued at approximately $10,535,037.36. This represents a 0.00 % 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 this hyperlink. Also, CAO Mark Pellowski sold 10,026 shares of Informatica stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total value of $268,295.76. Following the completion of the sale, the chief accounting officer now directly owns 142,671 shares in the company, valued at $3,817,875.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 48.10% of the company’s stock.

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.