Quest Partners LLC Invests $879,000 in Informatica Inc. (NYSE:INFA)

Quest Partners LLC purchased a new position in Informatica Inc. (NYSE:INFA) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 34,763 shares of the technology company’s stock, valued at approximately $879,000.

Several other hedge funds and other institutional investors have also made changes to their positions in INFA. Bank of Montreal Can acquired a new stake in Informatica during the 2nd quarter worth $2,442,000. Fred Alger Management LLC raised its stake in Informatica by 63.3% during the 2nd quarter. Fred Alger Management LLC now owns 794,084 shares of the technology company’s stock worth $24,521,000 after buying an additional 307,803 shares during the period. Allspring Global Investments Holdings LLC raised its stake in 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 period. California State Teachers Retirement System raised its stake in Informatica by 23.7% during the 1st quarter. California State Teachers Retirement System now owns 49,019 shares of the technology company’s stock worth $1,716,000 after buying an additional 9,406 shares during the period. Finally, Linden Thomas Advisory Services LLC acquired a new stake in Informatica during the 2nd quarter worth $1,595,000. 98.45% of the stock is currently owned by institutional investors.

Insider Transactions at Informatica

In other news, EVP John Arthur Schweitzer sold 8,501 shares of Informatica stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total value of $227,486.76. Following the completion of the sale, the executive vice president now directly owns 393,686 shares in the company, valued at approximately $10,535,037.36. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark Pellowski sold 10,026 shares of Informatica stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total transaction of $268,295.76. Following the completion of the sale, the chief accounting officer now owns 142,671 shares of the company’s stock, valued at approximately $3,817,875.96. The trade was a 6.57 % 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.

Wall Street Analysts Forecast Growth

INFA has been the topic of several recent research reports. UBS Group lifted their price target on Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Guggenheim reaffirmed a “buy” rating on shares of Informatica in a research report on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group lowered their target price on Informatica from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered their target price on Informatica from $40.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Informatica has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

Informatica Trading Up 0.5 %

Shares of NYSE:INFA opened at $25.86 on Thursday. Informatica Inc. has a 12-month low of $22.08 and a 12-month high of $39.80. The stock has a market cap of $7.90 billion, a PE ratio of 123.14, a P/E/G ratio of 5.28 and a beta of 1.04. The business has a 50 day moving average of $25.77 and a 200-day moving average of $26.73. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.75.

Informatica declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.