Victory Capital Management Inc. Cuts Stake in Informatica Inc. (NYSE:INFA)

Victory Capital Management Inc. reduced its stake in Informatica Inc. (NYSE:INFA) by 56.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,028 shares of the technology company’s stock after selling 21,984 shares during the period. Victory Capital Management Inc.’s holdings in Informatica were worth $430,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. purchased a new stake in shares of Informatica in the second quarter worth $32,000. Summit Securities Group LLC purchased a new stake in shares of Informatica in the second quarter worth $46,000. Amalgamated Bank grew its stake in shares of Informatica by 42.1% in the second quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock worth $108,000 after acquiring an additional 1,037 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Informatica in the third quarter worth $149,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Informatica in the second quarter worth $216,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Informatica Stock Up 0.5 %

INFA stock opened at $26.54 on Friday. Informatica Inc. has a fifty-two week low of $22.08 and a fifty-two week high of $39.80. The business’s 50-day moving average is $25.91 and its two-hundred day moving average is $26.59. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.17 and a current ratio of 2.17. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 126.36, a P/E/G ratio of 5.62 and a beta of 1.04.

Informatica declared that its board has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Informatica

In other news, CAO Mark Pellowski sold 10,026 shares of the firm’s 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 transaction, the chief accounting officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Arthur Schweitzer sold 8,501 shares of the firm’s 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 transaction, 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 position. The disclosure for this sale can be found here. 48.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

INFA has been the topic of several recent analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Informatica in a research report on Friday, October 18th. UBS Group increased their price objective on Informatica from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Informatica currently has an average rating of “Moderate Buy” and an average price target of $33.20.

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.