Informatica (NYSE:INFA) Earns Buy Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of Informatica (NYSE:INFA) in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $34.00 target price on the technology company’s stock.

A number of other equities research analysts have also weighed in on the stock. Guggenheim reissued a “buy” rating on shares of Informatica in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price target on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, UBS Group upped their price target on shares of Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.27.

Informatica Price Performance

Shares of INFA opened at $26.82 on Thursday. The firm has a market capitalization of $8.19 billion, a PE ratio of 127.71, 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 has a 1-year low of $22.08 and a 1-year high of $39.80. The company’s fifty day moving average price is $26.27 and its 200-day moving average price is $26.34.

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

Insiders Place Their Bets

In related news, EVP John Arthur Schweitzer sold 8,501 shares of the company’s stock in a transaction dated 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 $10,535,037.36. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark Pellowski sold 10,026 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total transaction of $268,295.76. Following the transaction, the chief accounting officer now owns 142,671 shares of the company’s stock, valued at approximately $3,817,875.96. This trade represents a 6.57 % 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 hedge funds have recently modified their holdings of the stock. Oddo BHF Asset Management Sas acquired a new position in shares of Informatica during the 3rd quarter worth about $1,394,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Informatica during the 3rd quarter valued at about $1,613,000. Geode Capital Management LLC grew its stake in Informatica by 34.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company’s stock valued at $30,677,000 after acquiring an additional 311,003 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Informatica during the 3rd quarter valued at about $396,000. Finally, XTX Topco Ltd purchased a new stake in Informatica during the 3rd quarter valued at about $325,000. Institutional investors and hedge funds own 98.45% 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.