Eagle Asset Management Inc. Increases Stake in Informatica Inc. (NYSE:INFA)

Eagle Asset Management Inc. lifted its stake in shares of Informatica Inc. (NYSE:INFA) by 17.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 60,677 shares of the technology company’s stock after purchasing an additional 9,138 shares during the period. Eagle Asset Management Inc.’s holdings in Informatica were worth $1,517,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. acquired a new position in Informatica during the 2nd quarter worth approximately $32,000. Summit Securities Group LLC purchased a new position in Informatica in the second quarter valued at $46,000. Amalgamated Bank raised its stake in Informatica by 42.1% in the second quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock valued at $108,000 after buying an additional 1,037 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in Informatica during the 3rd quarter worth about $149,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Informatica during the 2nd quarter worth about $216,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Informatica news, EVP John Arthur Schweitzer sold 8,501 shares of the business’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Pellowski sold 10,026 shares of the firm’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 $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 $3,817,875.96. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is owned by insiders.

Informatica Price Performance

Informatica stock opened at $26.36 on Tuesday. The business has a 50 day simple moving average of $25.81 and a 200-day simple moving average of $26.65. Informatica Inc. has a 12 month low of $22.08 and a 12 month high of $39.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17. The stock has a market capitalization of $8.05 billion, a PE ratio of 126.10, a price-to-earnings-growth ratio of 5.61 and a beta of 1.04.

Informatica announced that its board has initiated a share buyback 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 generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird cut their target price on Informatica from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Scotiabank reduced their price objective on shares of Informatica from $33.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their target price on shares of Informatica from $40.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, UBS Group raised their price objective on Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Informatica presently has an average rating of “Moderate Buy” and an average target price of $33.20.

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.