Gotham Asset Management LLC Buys New Position in Innodata Inc. (NASDAQ:INOD)

Gotham Asset Management LLC purchased a new position in Innodata Inc. (NASDAQ:INOD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,447 shares of the technology company’s stock, valued at approximately $650,000. Gotham Asset Management LLC owned approximately 0.06% of Innodata at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in INOD. Allworth Financial LP purchased a new position in Innodata in the fourth quarter worth $29,000. Meeder Asset Management Inc. purchased a new stake in Innodata during the fourth quarter valued at about $36,000. AlphaQuest LLC lifted its stake in Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Innodata in the 4th quarter worth about $150,000. Finally, Spire Wealth Management bought a new position in shares of Innodata during the 4th quarter valued at about $166,000. Institutional investors own 30.75% of the company’s stock.

Innodata Price Performance

INOD opened at $36.73 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50 day simple moving average is $37.70 and its 200 day simple moving average is $40.40. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 43.21 and a beta of 2.75. Innodata Inc. has a 1 year low of $11.87 and a 1 year high of $71.00.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $58.34 million for the quarter, compared to analysts’ expectations of $57.64 million. The business’s quarterly revenue was up 120.1% compared to the same quarter last year. As a group, analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Ashok Mishra sold 48,650 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This represents a 44.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock valued at $17,790,794 in the last quarter. Insiders own 12.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on INOD shares. BWS Financial boosted their target price on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wedbush lowered their price objective on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Innodata currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Innodata Company Profile

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.