CIBC Asset Management Inc Takes Position in Informatica Inc. (NYSE:INFA)

CIBC Asset Management Inc purchased a new stake in Informatica Inc. (NYSE:INFA) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,005 shares of the technology company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INFA. Jericho Capital Asset Management L.P. acquired a new position in Informatica during the first quarter worth $52,045,000. Allspring Global Investments Holdings LLC boosted its holdings in Informatica by 78,094.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,270,659 shares of the technology company’s stock worth $44,473,000 after purchasing an additional 1,269,034 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Informatica by 26.1% during the fourth quarter. Vanguard Group Inc. now owns 5,308,121 shares of the technology company’s stock worth $150,698,000 after purchasing an additional 1,098,246 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Informatica by 10.0% during the fourth quarter. Wellington Management Group LLP now owns 9,720,552 shares of the technology company’s stock worth $275,966,000 after purchasing an additional 883,642 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Informatica by 118.9% during the second quarter. Bank of New York Mellon Corp now owns 368,242 shares of the technology company’s stock worth $11,371,000 after purchasing an additional 200,025 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Informatica Price Performance

Shares of INFA opened at $24.72 on Tuesday. The firm has a market capitalization of $7.49 billion, a PE ratio of -1,236.00, a PEG ratio of 4.87 and a beta of 1.06. The company’s 50-day moving average is $25.33 and its 200-day moving average is $29.71. Informatica Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $39.80. 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 (NYSE:INFA) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Informatica had a net margin of 9.60% and a return on equity of 6.16%. The company had revenue of $400.63 million for the quarter, compared to analyst estimates of $402.97 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Equities analysts forecast that Informatica Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In related news, EVP John Arthur Schweitzer sold 64,501 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.18, for a total transaction of $1,817,638.18. Following the transaction, the executive vice president now directly owns 437,348 shares of the company’s stock, valued at $12,324,466.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Informatica news, CAO Mark Pellowski sold 10,026 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $27.74, for a total value of $278,121.24. Following the transaction, the chief accounting officer now directly owns 146,804 shares of the company’s stock, valued at approximately $4,072,342.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Arthur Schweitzer sold 64,501 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.18, for a total transaction of $1,817,638.18. Following the completion of the transaction, the executive vice president now directly owns 437,348 shares in the company, valued at $12,324,466.64. The disclosure for this sale can be found here. 48.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on INFA. Guggenheim restated a “buy” rating and set a $37.00 target price on shares of Informatica in a report on Tuesday, June 25th. Citigroup reduced their target price on shares of Informatica from $35.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. The Goldman Sachs Group cut their price target on shares of Informatica from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird cut their price target on shares of Informatica from $43.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price target on shares of Informatica from $40.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.55.

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.