Charles Schwab Investment Management Inc. Acquires 237,876 Shares of Informatica Inc. (NYSE:INFA)

Charles Schwab Investment Management Inc. increased its stake in Informatica Inc. (NYSE:INFA - Free Report) by 62.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 615,958 shares of the technology company's stock after buying an additional 237,876 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.20% of Informatica worth $15,571,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Informatica by 11.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company's stock valued at $201,000 after buying an additional 810 shares during the period. The Manufacturers Life Insurance Company raised its stake in Informatica by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,824 shares of the technology company's stock valued at $674,000 after acquiring an additional 902 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Informatica by 10.6% during the third quarter. Verdence Capital Advisors LLC now owns 10,387 shares of the technology company's stock valued at $263,000 after purchasing an additional 993 shares during the last quarter. First Horizon Advisors Inc. bought a new position in Informatica during the second quarter worth about $32,000. Finally, Amalgamated Bank boosted its position in Informatica by 42.1% during the second quarter. Amalgamated Bank now owns 3,498 shares of the technology company's stock worth $108,000 after purchasing an additional 1,037 shares during the period. Institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other Informatica news, EVP John Arthur Schweitzer sold 8,501 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 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 $10,535,037.36. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mark Pellowski sold 10,026 shares of the firm's 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 $268,295.76. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 48.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating on shares of Informatica in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on Informatica from $38.00 to $34.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Finally, UBS Group increased their price target on shares of Informatica from $27.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.20.

Informatica Trading Up 0.1 %

NYSE INFA traded up $0.03 during trading on Friday, hitting $27.13. 2,514,338 shares of the company's stock traded hands, compared to its average volume of 2,351,685. The stock has a fifty day moving average of $26.08 and a two-hundred day moving average of $26.43. Informatica Inc. has a 12-month low of $22.08 and a 12-month high of $39.80. The firm has a market cap of $8.28 billion, a P/E ratio of 129.20, a PEG ratio of 5.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17.

Informatica declared that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is 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.