BWS Financial Issues Positive Forecast for Innodata (NASDAQ:INOD) Stock Price

Innodata (NASDAQ:INOD) had its target price raised by BWS Financial from $45.00 to $74.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Wedbush initiated coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Innodata Price Performance

Shares of Innodata stock opened at $61.89 on Friday. The firm has a market cap of $1.79 billion, a PE ratio of 104.90 and a beta of 2.57. The stock has a 50 day moving average of $41.05 and a 200 day moving average of $29.81. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a 12 month low of $5.46 and a 12 month high of $71.00.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The firm had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. On average, research analysts expect that Innodata will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling at Innodata

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction on Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the completion of the sale, the director now directly owns 209,194 shares in the company, valued at approximately $9,204,536. This trade represents a 34.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ashok Mishra sold 58,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total transaction of $2,630,745.00. The disclosure for this sale can be found here. Insiders sold 559,806 shares of company stock worth $25,353,904 over the last 90 days. Company insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Innodata by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after purchasing an additional 117,000 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock valued at $37,331,000 after buying an additional 892,663 shares during the period. Geode Capital Management LLC raised its holdings in shares of Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after acquiring an additional 13,609 shares in the last quarter. State Street Corp lifted its stake in Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after acquiring an additional 9,408 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in Innodata during the 4th quarter worth about $16,713,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

About Innodata

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.