Tower Research Capital LLC TRC Sells 3,278 Shares of Innodata Inc. (NASDAQ:INOD)

Tower Research Capital LLC TRC decreased its position in shares of Innodata Inc. (NASDAQ:INOD) by 62.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,943 shares of the technology company’s stock after selling 3,278 shares during the period. Tower Research Capital LLC TRC’s holdings in Innodata were worth $77,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of INOD. Allworth Financial LP bought a new position in Innodata in the fourth quarter valued at about $29,000. USA Financial Formulas bought a new stake in Innodata during the 4th quarter valued at $36,000. Meeder Asset Management Inc. bought a new position in shares of Innodata in the fourth quarter valued at approximately $36,000. AlphaQuest LLC boosted its holdings 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. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Innodata during the 4th quarter valued at $150,000. 30.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INOD has been the topic of several recent research reports. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday. BWS Financial lifted their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Maxim Group increased their price target on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Insider Buying and Selling

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the transaction, the chief operating officer now owns 60,000 shares of the company’s stock, valued at $3,904,200. This represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock valued at $17,790,794 over the last quarter. Corporate insiders own 15.23% of the company’s stock.

Innodata Price Performance

Shares of INOD stock opened at $34.62 on Friday. The firm has a market cap of $1.10 billion, a P/E ratio of 40.73 and a beta of 2.75. The business’s 50 day moving average price is $38.73 and its 200-day moving average price is $39.73. Innodata Inc. has a fifty-two week low of $10.66 and a fifty-two 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.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata’s revenue was up 120.1% on a year-over-year basis. On average, equities research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Innodata 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.