Zions Bancorporation N.A. Acquires 25,200 Shares of Informatica Inc. (NYSE:INFA)

Zions Bancorporation N.A. lifted its holdings in shares of Informatica Inc. (NYSE:INFA) by 48.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,521 shares of the technology company’s stock after acquiring an additional 25,200 shares during the quarter. Zions Bancorporation N.A.’s holdings in Informatica were worth $1,960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in Informatica in the 3rd quarter valued at $218,000. Versor Investments LP bought a new stake in Informatica in the 3rd quarter valued at $298,000. Meritage Portfolio Management boosted its stake in Informatica by 71.5% in the 3rd quarter. Meritage Portfolio Management now owns 438,153 shares of the technology company’s stock valued at $11,077,000 after purchasing an additional 182,742 shares during the period. Verdence Capital Advisors LLC raised 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 acquiring an additional 993 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new position in Informatica in the 3rd quarter valued at $149,000. 98.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Informatica news, CAO Mark Pellowski sold 10,026 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 value of $268,295.76. Following the sale, the chief accounting officer now owns 142,671 shares in the company, valued at approximately $3,817,875.96. The trade was a 6.57 % decrease in their position. The transaction 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 shares were 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 $10,535,037.36. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 48.10% of the company’s stock.

Informatica Price Performance

Shares of INFA opened at $25.26 on Friday. Informatica Inc. has a 12-month low of $22.08 and a 12-month high of $39.80. The business has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $26.91. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.75. The stock has a market cap of $7.65 billion, a PE ratio of 120.29, a PEG ratio of 5.42 and a beta of 1.04.

Informatica announced that its board has approved a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INFA shares. Scotiabank dropped their price objective on Informatica from $33.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on Informatica from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Informatica from $39.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Guggenheim reaffirmed a “buy” rating on shares of Informatica in a report on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Informatica in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock 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.