Truist Financial Initiates Coverage on Informatica (NYSE:INFA)

Truist Financial assumed coverage on shares of Informatica (NYSE:INFA - Free Report) in a research note published on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $34.00 price objective on the technology company's stock.

A number of other equities analysts also recently issued reports on INFA. Guggenheim reaffirmed a "buy" rating on shares of Informatica in a report on Friday, October 18th. UBS Group raised their price target on Informatica from $27.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on Informatica from $38.00 to $34.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Informatica presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.27.

Informatica Stock Up 1.4 %

NYSE:INFA traded up $0.37 during mid-day trading on Thursday, hitting $27.07. The stock had a trading volume of 2,099,623 shares, compared to its average volume of 1,769,336. Informatica has a twelve month low of $22.08 and a twelve month high of $39.80. The stock has a 50-day simple moving average of $26.18 and a two-hundred day simple moving average of $26.38. 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 company has a market capitalization of $8.27 billion, a PE ratio of 127.57, a PEG ratio of 5.77 and a beta of 1.00.

Informatica announced that its board has approved a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Informatica

In other news, EVP John Arthur Schweitzer sold 8,501 shares of the company'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 $227,486.76. Following the completion of the transaction, the executive vice president now owns 393,686 shares of the company's stock, valued at $10,535,037.36. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was 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 directly owns 142,671 shares in the company, valued at $3,817,875.96. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.10% of the stock is owned by insiders.

Institutional Trading of Informatica

A number of institutional investors have recently modified their holdings of INFA. First Horizon Advisors Inc. purchased a new position in Informatica in the second quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Informatica in the third quarter valued at about $38,000. National Bank of Canada FI raised its holdings in shares of Informatica by 3,288.0% during the 3rd quarter. National Bank of Canada FI now owns 1,694 shares of the technology company's stock valued at $43,000 after buying an additional 1,644 shares during the period. Summit Securities Group LLC acquired a new position in Informatica during the 2nd quarter worth approximately $46,000. Finally, Amalgamated Bank lifted its position 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 acquiring an additional 1,037 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

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.