Innodata (NASDAQ:INOD) Receives “Top Pick” Rating from BWS Financial

Innodata (NASDAQ:INOD)‘s stock had its “top pick” rating restated by equities researchers at BWS Financial in a research note issued to investors on Friday, Benzinga reports. They currently have a $140.00 price objective on the technology company’s stock. BWS Financial’s price objective would suggest a potential upside of 153.35% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wedbush boosted their target price on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $130.00.

Innodata Price Performance

NASDAQ:INOD traded down $1.72 on Friday, reaching $55.26. The stock had a trading volume of 192,939 shares, compared to its average volume of 1,457,416. The company has a market capitalization of $1.90 billion, a P/E ratio of 41.79 and a beta of 2.88. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.06. Innodata has a 1-year low of $34.23 and a 1-year high of $125.14. The stock has a fifty day moving average price of $60.08 and a 200-day moving average price of $64.33.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. The business had revenue of $92.14 million for the quarter, compared to analyst estimates of $86.31 million. Innodata had a return on equity of 37.79% and a net margin of 14.66%.Innodata’s revenue for the quarter was up 57.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. Research analysts forecast that Innodata will post 1.18 EPS for the current year.

Insider Transactions at Innodata

In related news, Director Louise Forlenza sold 10,000 shares of Innodata stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $53.54, for a total value of $535,400.00. Following the sale, the director owned 5,424 shares of the company’s stock, valued at approximately $290,400.96. This trade represents a 64.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Next Century Growth Investors LLC raised its position in shares of Innodata by 107.5% in the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock valued at $18,639,000 after purchasing an additional 189,488 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Innodata by 32.2% during the first quarter. Dimensional Fund Advisors LP now owns 583,239 shares of the technology company’s stock worth $22,517,000 after purchasing an additional 142,192 shares during the period. Bank of New York Mellon Corp acquired a new stake in Innodata during the 2nd quarter worth approximately $7,262,000. Janus Henderson Group PLC lifted its holdings in shares of Innodata by 13.8% during the first quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock worth $20,315,000 after buying an additional 63,779 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Innodata by 156.3% in the 1st quarter. Bank of America Corp DE now owns 102,268 shares of the technology company’s stock worth $3,950,000 after purchasing an additional 62,361 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Company Profile

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.