New York State Teachers Retirement System Buys New Position in Informatica Inc. (NYSE:INFA)

New York State Teachers Retirement System bought a new stake in shares of Informatica Inc. (NYSE:INFA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,875 shares of the technology company’s stock, valued at approximately $149,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of Montreal Can purchased a new position in Informatica during the second quarter valued at approximately $2,442,000. Swiss National Bank lifted its stake in shares of Informatica by 35.2% during the 1st quarter. Swiss National Bank now owns 97,600 shares of the technology company’s stock valued at $3,416,000 after buying an additional 25,400 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Informatica in the 1st quarter worth $4,162,000. Fred Alger Management LLC increased its stake in 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 buying an additional 307,803 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in 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 buying an additional 141,163 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Informatica Stock Down 7.7 %

NYSE:INFA opened at $25.00 on Monday. Informatica Inc. has a 1-year low of $22.08 and a 1-year 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 2.03. The firm has a market capitalization of $7.57 billion, a P/E ratio of 119.05, a PEG ratio of 5.32 and a beta of 1.04. The company’s fifty day moving average price is $25.69 and its 200-day moving average price is $27.03.

Informatica announced that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Informatica in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group dropped their target price on shares of Informatica from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Scotiabank reduced their price target on shares of Informatica from $33.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Informatica from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.45.

Insider Buying and Selling

In other Informatica news, EVP John Arthur Schweitzer sold 8,501 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 value of $227,486.76. Following the sale, the executive vice president now directly owns 393,686 shares of the company’s stock, valued at approximately $10,535,037.36. 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 is accessible through this hyperlink. In other news, EVP John Arthur Schweitzer sold 8,501 shares of Informatica stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total value of $227,486.76. Following the sale, the executive vice president now directly owns 393,686 shares of the company’s stock, valued at $10,535,037.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mark Pellowski sold 10,026 shares of the 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 transaction, the chief accounting officer now directly owns 142,671 shares of the company’s stock, valued at approximately $3,817,875.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.10% of the stock is currently owned by insiders.

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.