Meritage Portfolio Management Lowers Position in Informatica Inc. (NYSE:INFA)

Meritage Portfolio Management trimmed its stake in shares of Informatica Inc. (NYSE:INFA) by 2.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 427,710 shares of the technology company’s stock after selling 10,443 shares during the period. Meritage Portfolio Management owned 0.14% of Informatica worth $11,091,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Informatica by 398.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company’s stock valued at $178,046,000 after buying an additional 5,631,139 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Informatica by 29.9% in the third quarter. Wellington Management Group LLP now owns 11,564,047 shares of the technology company’s stock valued at $292,339,000 after purchasing an additional 2,662,379 shares in the last quarter. JPMorgan Chase & Co. increased its position in Informatica by 826.8% in the third quarter. JPMorgan Chase & Co. now owns 1,484,147 shares of the technology company’s stock worth $37,519,000 after purchasing an additional 1,324,006 shares during the last quarter. Geode Capital Management LLC lifted its position in Informatica by 34.5% during the third quarter. Geode Capital Management LLC now owns 1,213,188 shares of the technology company’s stock valued at $30,677,000 after purchasing an additional 311,003 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Informatica by 62.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company’s stock valued at $15,571,000 after purchasing an additional 237,876 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Informatica Stock Up 1.3 %

Shares of NYSE INFA opened at $25.93 on Wednesday. The stock has a market capitalization of $7.92 billion, a PE ratio of 123.46, a price-to-earnings-growth ratio of 3.63 and a beta of 0.99. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75. Informatica Inc. has a 12-month low of $22.08 and a 12-month high of $39.80. The stock’s fifty day simple moving average is $25.95 and its two-hundred day simple moving average is $25.44.

Informatica declared that its board has initiated a stock buyback plan on Wednesday, October 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Informatica

In related news, EVP John Arthur Schweitzer sold 10,734 shares of Informatica stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $27.05, for a total transaction of $290,354.70. Following the completion of the sale, the executive vice president now owns 353,778 shares of the company’s stock, valued at $9,569,694.90. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark Pellowski sold 10,035 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $27.06, for a total transaction of $271,547.10. Following the completion of the transaction, the chief accounting officer now owns 138,477 shares in the company, valued at approximately $3,747,187.62. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 48.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on INFA. Truist Financial assumed coverage on shares of Informatica in a report on Thursday, December 12th. They issued a “buy” rating and a $34.00 price target for the company. UBS Group raised their price objective on Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Guggenheim reissued a “buy” rating and set a $37.00 target price on shares of Informatica in a research report on Friday, January 31st. Cantor Fitzgerald started coverage on Informatica in a research report on Friday, January 17th. They issued a “neutral” rating and a $29.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Informatica 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.