Raymond James Financial Inc. Takes Position in Innodata Inc. (NASDAQ:INOD)

Raymond James Financial Inc. acquired a new stake in Innodata Inc. (NASDAQ:INOD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 12,231 shares of the technology company’s stock, valued at approximately $483,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock worth $64,802,000 after buying an additional 117,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock valued at $12,176,000 after acquiring an additional 293,687 shares during the last quarter. Trexquant Investment LP raised its holdings in Innodata by 222.8% during the 4th quarter. Trexquant Investment LP now owns 300,488 shares of the technology company’s stock worth $11,875,000 after purchasing an additional 207,409 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Innodata in the 4th quarter worth about $11,283,000. Finally, Rathbones Group PLC lifted its stake in Innodata by 42.4% in the fourth quarter. Rathbones Group PLC now owns 123,014 shares of the technology company’s stock valued at $4,862,000 after buying an additional 36,605 shares during the period. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Trading Up 11.8 %

NASDAQ INOD opened at $41.11 on Friday. 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 Inc. has a 1-year low of $9.51 and a 1-year high of $71.00. The stock has a 50-day moving average of $39.06 and a 200-day moving average of $39.48. The firm has a market cap of $1.31 billion, a PE ratio of 48.37 and a beta of 2.75.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Innodata’s quarterly revenue was up 120.1% on a year-over-year basis. As a group, sell-side analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Maxim Group increased their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. BWS Financial increased their target price on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, Innodata has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Insider Activity at Innodata

In other news, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the transaction, the chief operating officer now owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock valued at $17,790,794 in the last three months. Company insiders own 15.23% of the company’s stock.

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.