Informatica (NYSE:INFA) Board of Directors Declares Share Buyback Program

Informatica (NYSE:INFA) announced that its board has authorized a stock buyback plan on Wednesday, October 30th, RTT News reports. The company plans to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Informatica Trading Down 0.4 %

Shares of Informatica stock traded down $0.10 during trading hours on Wednesday, reaching $26.68. The stock had a trading volume of 1,296,014 shares, compared to its average volume of 1,660,398. The firm has a 50 day simple moving average of $25.44 and a two-hundred day simple moving average of $27.46. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of -1,340.50, a P/E/G ratio of 5.41 and a beta of 1.06. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.77. Informatica has a 1 year low of $18.71 and a 1 year high of $39.80.

Informatica (NYSE:INFA) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $400.63 million for the quarter, compared to the consensus estimate of $402.97 million. Informatica had a return on equity of 6.16% and a net margin of 9.60%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS. As a group, equities research analysts anticipate that Informatica will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INFA. Scotiabank decreased their price objective on Informatica from $33.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Informatica in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reduced their target price on Informatica from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company reduced their target price on Informatica from $40.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group reduced their target price on Informatica from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.18.

Insider Activity

In other news, EVP John Arthur Schweitzer sold 8,501 shares of the 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 sale, the executive vice president now owns 393,686 shares in the company, valued at approximately $10,535,037.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Informatica news, CAO Mark Pellowski sold 10,026 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 transaction of $268,295.76. Following the completion of the sale, the chief accounting officer now owns 142,671 shares in the company, valued at $3,817,875.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $227,486.76. Following the sale, the executive vice president now 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 position. 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.