BWS Financial Forecasts Strong Price Appreciation for Innodata (NASDAQ:INOD) Stock

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

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

Innodata Stock Performance

INOD stock opened at $61.89 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 72.81 and a beta of 2.57. Innodata has a 12 month low of $5.46 and a 12 month high of $71.00. The firm has a 50 day moving average of $41.60 and a two-hundred day moving average of $30.33.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, equities analysts anticipate that Innodata will post 0.81 EPS for the current fiscal year.

Insider Activity at Innodata

In other news, COO Ashok Mishra sold 58,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total value of $2,630,745.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nauman Sabeeh Toor sold 200,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the completion of the sale, the director now directly owns 319,401 shares in the company, valued at approximately $14,491,223.37. The trade was a 38.51 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 currently owned by insiders.

Institutional Investors Weigh In On Innodata

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