Informatica (NYSE:INFA) Now Covered by Truist Financial

Stock analysts at Truist Financial assumed coverage on shares of Informatica (NYSE:INFA) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $34.00 price target on the technology company’s stock. Truist Financial’s target price suggests a potential upside of 26.77% from the company’s previous close.

A number of other equities analysts also recently commented on INFA. JPMorgan Chase & Co. reduced their price objective on Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Guggenheim reissued a “buy” rating on shares of Informatica in a research report on Friday, October 18th. Finally, 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 report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.27.

Informatica Stock Down 0.9 %

INFA stock opened at $26.82 on Thursday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average of $26.27 and a two-hundred day moving average of $26.36. Informatica has a 12 month low of $22.08 and a 12 month high of $39.80. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 127.72, a PEG ratio of 5.68 and a beta of 1.00.

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

Insider Activity

In other news, CAO Mark Pellowski sold 10,026 shares of Informatica stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Arthur Schweitzer sold 8,501 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total value of $227,486.76. Following the transaction, 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 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 and other institutional investors have recently made changes to their positions in INFA. First Horizon Advisors Inc. purchased a new stake in Informatica during the 2nd quarter worth approximately $32,000. Quarry LP purchased a new stake in shares of Informatica during the third quarter worth $38,000. National Bank of Canada FI raised its stake in shares of Informatica by 3,288.0% in the third quarter. National Bank of Canada FI now owns 1,694 shares of the technology company’s stock valued at $43,000 after acquiring an additional 1,644 shares in the last quarter. Summit Securities Group LLC purchased a new position in Informatica in the second quarter valued at $46,000. Finally, Amalgamated Bank grew its stake in Informatica by 42.1% during the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock worth $108,000 after purchasing an additional 1,037 shares in the last quarter. Hedge funds and other 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.