Zions Bancorporation N.A. Grows Stake in Informatica Inc. (NYSE:INFA)

Zions Bancorporation N.A. raised its stake in shares of Informatica Inc. (NYSE:INFA - Free Report) by 48.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,521 shares of the technology company's stock after purchasing an additional 25,200 shares during the period. Zions Bancorporation N.A.'s holdings in Informatica were worth $1,960,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of Informatica by 398.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company's stock worth $178,046,000 after acquiring an additional 5,631,139 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new position in shares of Informatica in the 1st quarter worth about $52,045,000. Fiera Capital Corp raised its position in shares of Informatica by 439.2% in the 2nd 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 in the last quarter. Nippon Life Global Investors Americas Inc. bought a new position in shares of Informatica in the 2nd quarter worth about $10,806,000. Finally, Fred Alger Management LLC raised its position in shares of Informatica by 63.3% in the 2nd quarter. Fred Alger Management LLC now owns 794,084 shares of the technology company's stock worth $24,521,000 after acquiring an additional 307,803 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Informatica Stock Down 1.9 %

INFA stock traded down $0.47 during mid-day trading on Friday, reaching $24.79. 2,182,534 shares of the company traded hands, compared to its average volume of 1,747,698. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 118.05, a P/E/G ratio of 5.42 and a beta of 1.04. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.75. Informatica Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $39.80. The firm's 50 day moving average price is $25.72 and its 200 day moving average price is $26.85.

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

Insider Transactions at Informatica

In related news, CAO Mark Pellowski sold 10,026 shares of Informatica 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 of the company's stock, valued at approximately $3,817,875.96. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Arthur Schweitzer sold 8,501 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.76, for a total transaction of $227,486.76. Following the sale, the executive vice president now directly owns 393,686 shares in the company, valued at $10,535,037.36. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 48.10% of the company's stock.

Wall Street Analysts Forecast Growth

INFA has been the subject of several research reports. Guggenheim restated a "buy" rating on shares of Informatica in a research note on Friday, October 18th. UBS Group raised their target price on Informatica from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Robert W. Baird reduced their target price on Informatica from $43.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada restated an "outperform" rating and issued a $35.00 target price on shares of Informatica in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Informatica from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Informatica has a consensus rating of "Moderate Buy" and an average target price of $33.20.

Informatica Company 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.