Innodata (NASDAQ:INOD) Given New $75.00 Price Target at Maxim Group

Innodata (NASDAQ:INOD) had its target price increased by Maxim Group from $54.00 to $75.00 in a research note released on Friday,Benzinga reports. Maxim Group currently has a buy rating on the technology company’s stock.

A number of other brokerages have also weighed in on INOD. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. Wedbush started coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, BWS Financial lifted their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Price Performance

Shares of INOD stock opened at $61.89 on Friday. Innodata has a 52-week low of $5.46 and a 52-week high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $1.79 billion, a P/E ratio of 72.81 and a beta of 2.57. The stock has a 50 day moving average price of $41.60 and a 200 day moving average price of $30.33.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. As a group, sell-side analysts predict that Innodata will post 0.81 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Ashok Mishra sold 58,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total transaction of $2,630,745.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold a total of 368,707 shares of company stock worth $16,553,853 in the last ninety days. 15.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INOD. Private Advisor Group LLC grew its stake in Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after buying an additional 2,207 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Innodata during the 3rd quarter valued at about $311,000. Los Angeles Capital Management LLC purchased a new stake in Innodata during the 3rd quarter valued at about $330,000. Charles Schwab Investment Management Inc. grew its stake in Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after purchasing an additional 1,843 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.