Quest Partners LLC Acquires New Holdings in Informatica Inc. (NYSE:INFA)

Quest Partners LLC bought a new position in Informatica Inc. (NYSE:INFA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 34,763 shares of the technology company's stock, valued at approximately $879,000.

Several other hedge funds have also modified their holdings of INFA. Allspring Global Investments Holdings LLC increased its stake in shares of Informatica by 398.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company's stock worth $178,046,000 after buying an additional 5,631,139 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Informatica during the first quarter valued at $52,045,000. Fiera Capital Corp lifted its holdings in Informatica by 439.2% in the second quarter. Fiera Capital Corp now owns 1,554,592 shares of the technology company's stock worth $48,006,000 after purchasing an additional 1,266,265 shares during the period. Nippon Life Global Investors Americas Inc. acquired a new stake in Informatica in the second quarter worth about $10,806,000. Finally, Fred Alger Management LLC lifted its holdings in Informatica by 63.3% in the second quarter. Fred Alger Management LLC now owns 794,084 shares of the technology company's stock worth $24,521,000 after purchasing an additional 307,803 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Informatica from $39.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 target price on shares of Informatica in a report on Wednesday, July 31st. The Goldman Sachs Group lowered 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. Guggenheim reiterated a "buy" rating on shares of Informatica in a report on Friday, October 18th. Finally, Scotiabank lowered their price objective on shares of Informatica from $33.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Insider Buying and Selling at Informatica

In related news, EVP John Arthur Schweitzer sold 8,501 shares of Informatica stock in a transaction dated Tuesday, October 15th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark Pellowski sold 10,026 shares of Informatica stock in a transaction dated Tuesday, October 15th. The stock was 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. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 48.10% of the company's stock.

Informatica Stock Up 0.5 %

INFA opened at $25.86 on Thursday. Informatica Inc. has a fifty-two week low of $22.08 and a fifty-two week 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 firm's fifty day moving average price is $25.77 and its two-hundred day moving average price is $26.73. The company has a market capitalization of $7.90 billion, a P/E ratio of 123.15, a P/E/G ratio of 5.48 and a beta of 1.04.

Informatica announced that its Board of Directors has approved a share buyback program on Wednesday, October 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are 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.