Informatica (NYSE:INFA) Sees Large Volume Increase – Time to Buy?

Shares of Informatica Inc. (NYSE:INFA) saw unusually-high trading volume on Tuesday . Approximately 949,157 shares were traded during mid-day trading, a decline of 46% from the previous session’s volume of 1,743,820 shares.The stock last traded at $26.50 and had previously closed at $26.37.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INFA. Robert W. Baird lowered their price target on Informatica from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Scotiabank dropped their price target on shares of Informatica from $33.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Informatica in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company dropped their target price on shares of Informatica from $40.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

Informatica Stock Performance

The company’s fifty day simple moving average is $25.85 and its two-hundred day simple moving average is $26.61. 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 stock has a market capitalization of $8.06 billion, a P/E ratio of 125.67, a PEG ratio of 5.61 and a beta of 1.04.

Informatica announced that its board has authorized a stock 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 purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP John Arthur Schweitzer sold 8,501 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark Pellowski sold 10,026 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 142,671 shares of the company’s stock, valued at approximately $3,817,875.96. This trade represents a 6.57 % 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.

Hedge Funds Weigh In On Informatica

A number of hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Informatica by 11.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company’s stock worth $201,000 after purchasing an additional 810 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Informatica by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 21,824 shares of the technology company’s stock worth $674,000 after purchasing an additional 902 shares during the period. Verdence Capital Advisors LLC increased its holdings in Informatica by 10.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,387 shares of the technology company’s stock valued at $263,000 after buying an additional 993 shares during the period. First Horizon Advisors Inc. acquired a new position in shares of Informatica in the 2nd quarter valued at approximately $32,000. Finally, Amalgamated Bank raised its position in shares of Informatica by 42.1% in the 2nd quarter. Amalgamated Bank now owns 3,498 shares of the technology company’s stock valued at $108,000 after buying an additional 1,037 shares in the last quarter. Institutional investors own 98.45% 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.