Informatica (NYSE:INFA) Approves Stock Repurchase Program

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

Informatica Trading Down 0.4 %

Shares of Informatica stock opened at $26.68 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $7.87 billion, a PE ratio of -1,334.00, a P/E/G ratio of 5.41 and a beta of 1.06. Informatica has a 1-year low of $18.71 and a 1-year high of $39.80. The company’s fifty day simple moving average is $25.44 and its 200-day simple moving average is $27.46.

Informatica (NYSE:INFA) last released its earnings results on Tuesday, July 30th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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%. Informatica’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, equities analysts anticipate that Informatica will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Informatica from $35.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Informatica in a report on Wednesday, July 31st. Scotiabank dropped their target price on shares of Informatica from $33.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Guggenheim reaffirmed a “buy” rating on shares of Informatica in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered their price target on Informatica from $40.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Insider Activity

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

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.