Informatica Inc. (NYSE:INFA) Stock Holdings Lifted by Meritage Portfolio Management

Meritage Portfolio Management increased its position in shares of Informatica Inc. (NYSE:INFA - Free Report) by 71.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 438,153 shares of the technology company's stock after purchasing an additional 182,742 shares during the quarter. Meritage Portfolio Management owned 0.14% of Informatica worth $11,077,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of INFA. Allspring Global Investments Holdings LLC boosted its stake in shares of Informatica by 398.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company's stock valued at $178,046,000 after acquiring an additional 5,631,139 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Informatica by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 5,575,869 shares of the technology company's stock valued at $195,155,000 after buying an additional 267,748 shares during the period. Fiera Capital Corp increased its stake in Informatica by 439.2% during the second quarter. Fiera Capital Corp now owns 1,554,592 shares of the technology company's stock worth $48,006,000 after acquiring an additional 1,266,265 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Informatica in the 1st quarter valued at about $52,045,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Informatica by 6.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,289,958 shares of the technology company's stock worth $45,149,000 after purchasing an additional 73,655 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Informatica Stock Performance

Shares of NYSE:INFA traded down $2.10 during trading on Friday, hitting $25.00. 10,081,289 shares of the company traded hands, compared to its average volume of 1,659,362. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 119.05, a PEG ratio of 5.63 and a beta of 1.04. Informatica Inc. has a one year low of $22.08 and a one year high of $39.80. The company has a quick ratio of 2.03, a current ratio of 2.17 and a debt-to-equity ratio of 0.75. The business's fifty day moving average is $25.69 and its 200-day moving average is $27.03.

Informatica announced that its Board of Directors has authorized a share buyback program on Wednesday, October 30th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the technology company to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on INFA shares. UBS Group increased their price target on Informatica from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $35.00 price target on shares of Informatica in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Informatica from $38.00 to $34.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Wells Fargo & Company cut their target price on shares of Informatica from $40.00 to $32.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group decreased their price target on Informatica from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Informatica currently has a consensus rating of "Moderate Buy" and an average target price of $32.45.

Insider Buying and Selling

In other Informatica news, 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 sale, the chief accounting officer now owns 142,671 shares in the company, valued at approximately $3,817,875.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP John Arthur Schweitzer sold 8,501 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 transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark Pellowski sold 10,026 shares of the company's stock in a transaction 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 sale, the chief accounting officer now owns 142,671 shares of the company's stock, valued at approximately $3,817,875.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 48.10% of the stock is owned by company insiders.

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.