Meritage Portfolio Management Trims Position in Informatica Inc. (NYSE:INFA)

Meritage Portfolio Management lowered its position in Informatica Inc. (NYSE:INFA) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 427,710 shares of the technology company’s stock after selling 10,443 shares during the period. Meritage Portfolio Management’s holdings in Informatica were worth $11,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INFA. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Informatica by 11.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,935 shares of the technology company’s stock valued at $201,000 after buying an additional 810 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Informatica by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 21,824 shares of the technology company’s stock valued at $674,000 after acquiring an additional 902 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Informatica by 10.6% in the third quarter. Verdence Capital Advisors LLC now owns 10,387 shares of the technology company’s stock worth $263,000 after acquiring an additional 993 shares during the period. ORG Wealth Partners LLC purchased a new stake in Informatica in the fourth quarter valued at $32,000. Finally, KBC Group NV lifted its stake in shares of Informatica by 69.4% in the 4th quarter. KBC Group NV now owns 3,235 shares of the technology company’s stock valued at $84,000 after purchasing an additional 1,325 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Informatica

In other Informatica news, EVP John Arthur Schweitzer sold 10,734 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $27.05, for a total value of $290,354.70. Following the sale, the executive vice president now owns 353,778 shares of the company’s stock, valued at $9,569,694.90. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Pellowski sold 10,035 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $27.06, for a total value of $271,547.10. Following the sale, the chief accounting officer now owns 138,477 shares in the company, valued at approximately $3,747,187.62. This trade represents a 6.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 48.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INFA. JPMorgan Chase & Co. lowered their price objective on shares of Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. UBS Group raised their price target on Informatica from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Cantor Fitzgerald assumed coverage on Informatica in a report on Friday, January 17th. They issued a “neutral” rating and a $29.00 price objective on the stock. Guggenheim restated a “buy” rating and set a $37.00 target price on shares of Informatica in a report on Friday, January 31st. Finally, Truist Financial started coverage on shares of Informatica in a research note on Thursday, December 12th. They set a “buy” rating and a $34.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Informatica Stock Performance

NYSE INFA opened at $25.93 on Wednesday. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 123.46, a PEG ratio of 3.63 and a beta of 0.99. The business’s 50 day moving average is $25.95 and its two-hundred day moving average is $25.44. Informatica Inc. has a 12-month low of $22.08 and a 12-month high of $39.80. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.75.

Informatica announced that its board has approved a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 5.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.