Innodata Inc. (NASDAQ:INOD) Receives $53.00 Average PT from Brokerages

Innodata Inc. (NASDAQ:INOD) has been given an average rating of “Buy” by the five brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $53.00.

A number of brokerages have issued reports on INOD. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Maxim Group lifted their target price 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. Wedbush began coverage on shares of Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. Chardan Capital restated a “buy” rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. Finally, BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

Insider Activity at Innodata

In related news, CFO Marissa B. Espineli sold 30,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,171,620. This represents a 62.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Ashok Mishra sold 58,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total transaction of $2,630,745.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 644,134 shares of company stock valued at $34,344,647. Company insiders own 15.23% of the company’s stock.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP acquired a new position in Innodata during the fourth quarter worth approximately $29,000. USA Financial Formulas acquired a new position in Innodata during the fourth quarter worth approximately $36,000. Meeder Asset Management Inc. acquired a new position in Innodata during the fourth quarter worth approximately $36,000. AlphaQuest LLC increased its position 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. acquired a new position in Innodata during the fourth quarter worth approximately $150,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Stock Up 0.2 %

Shares of NASDAQ INOD opened at $52.72 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a 52 week low of $5.46 and a 52 week high of $71.00. The firm has a 50-day moving average price of $43.49 and a 200 day moving average price of $31.53. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 62.02 and a beta of 2.57.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $53.01 million. Equities research analysts anticipate that Innodata will post 0.81 EPS for the current fiscal year.

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.