Teachers Retirement System of The State of Kentucky Buys Shares of 63,821 Informatica Inc. (NYSE:INFA)

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Informatica Inc. (NYSE:INFA - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 63,821 shares of the technology company's stock, valued at approximately $1,613,000.

A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Informatica by 62.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company's stock worth $15,571,000 after purchasing an additional 237,876 shares during the period. Summit Partners Public Asset Management LLC acquired a new stake in shares of Informatica during the third quarter valued at about $2,781,000. Bank of Montreal Can purchased a new stake in shares of Informatica in the 2nd quarter valued at approximately $2,442,000. Wellington Management Group LLP lifted its holdings in shares of Informatica by 29.9% in the 3rd quarter. Wellington Management Group LLP now owns 11,564,047 shares of the technology company's stock worth $292,339,000 after acquiring an additional 2,662,379 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Informatica by 11.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,411,822 shares of the technology company's stock worth $43,597,000 after acquiring an additional 141,163 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INFA. UBS Group boosted their target price on Informatica from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Guggenheim reiterated a "buy" rating on shares of Informatica in a report on Friday, October 18th. Truist Financial started coverage on Informatica in a research report on Thursday, December 12th. They set a "buy" rating and a $34.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.27.

Insider Activity

In related news, CAO Mark Pellowski sold 10,026 shares of the stock in a transaction 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 of the company's stock, valued at $3,817,875.96. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Arthur Schweitzer sold 10,734 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $27.05, for a total transaction of $290,354.70. Following the completion of the transaction, the executive vice president now directly owns 353,778 shares in the company, valued at $9,569,694.90. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,296 shares of company stock valued at $1,057,684. Insiders own 48.10% of the company's stock.

Informatica Stock Performance

INFA stock traded down $0.97 on Wednesday, hitting $26.07. The company's stock had a trading volume of 2,601,761 shares, compared to its average volume of 1,786,774. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 124.15, a price-to-earnings-growth ratio of 5.68 and a beta of 1.00. The firm has a 50 day moving average of $26.34 and a two-hundred day moving average of $26.29. 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 1 year low of $22.08 and a 1 year high of $39.80.

Informatica announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.