Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Informatica Inc. (NYSE:INFA)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Informatica Inc. (NYSE:INFA) by 20.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,907 shares of the technology company’s stock after acquiring an additional 2,867 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Informatica were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Informatica by 398.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,042,961 shares of the technology company’s stock valued at $178,046,000 after purchasing an additional 5,631,139 shares in the last quarter. Fiera Capital Corp raised its position in shares of Informatica by 439.2% during the 2nd quarter. Fiera Capital Corp now owns 1,554,592 shares of the technology company’s stock valued at $48,006,000 after buying 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 valued at about $10,806,000. Fred Alger Management LLC grew its position 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 acquiring an additional 307,803 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Informatica by 62.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 615,958 shares of the technology company’s stock worth $15,571,000 after acquiring an additional 237,876 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Informatica Trading Up 0.1 %

Shares of INFA opened at $27.13 on Friday. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 129.20, a PEG ratio of 5.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.17 and a quick ratio of 2.17. Informatica Inc. has a 1-year low of $22.08 and a 1-year high of $39.80. The company has a 50-day moving average of $26.08 and a 200 day moving average of $26.46.

Informatica declared that its Board of Directors has approved a share repurchase program on Wednesday, October 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the technology company to reacquire 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 stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on INFA shares. UBS Group upped 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. JPMorgan Chase & Co. decreased their price target on Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Informatica in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Informatica currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Insider Activity

In other news, CAO Mark Pellowski sold 10,026 shares of the firm’s 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 transaction, the chief accounting officer now owns 142,671 shares in the company, valued at approximately $3,817,875.96. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Arthur Schweitzer sold 8,501 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.76, for a total transaction of $227,486.76. Following the completion of 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 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 48.10% of the company’s stock.

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.