Price T Rowe Associates Inc. MD Increases Stock Position in Innodata Inc. (NASDAQ:INOD)

Price T Rowe Associates Inc. MD raised its stake in shares of Innodata Inc. (NASDAQ:INOD) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,105 shares of the technology company’s stock after purchasing an additional 1,996 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.07% of Innodata worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of INOD. Harvest Investment Services LLC purchased a new stake in shares of Innodata during the 4th quarter valued at $747,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Innodata in the 4th quarter worth about $865,000. MetLife Investment Management LLC increased its position in shares of Innodata by 12.1% during the 4th quarter. MetLife Investment Management LLC now owns 16,414 shares of the technology company’s stock valued at $649,000 after purchasing an additional 1,776 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Innodata by 58.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 280,297 shares of the technology company’s stock valued at $11,080,000 after buying an additional 103,431 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Innodata in the 4th quarter worth approximately $2,288,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on INOD. Maxim Group lifted their price target on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. 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. Finally, Wedbush cut their price target on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Insider Buying and Selling at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. The trade was a 62.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction that occurred 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 directly 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 sold 275,427 shares of company stock valued at $17,790,794 in the last 90 days. Insiders own 12.20% of the company’s stock.

Innodata Trading Down 15.8%

NASDAQ:INOD opened at $34.62 on Monday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 40.73 and a beta of 2.75. 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 fifty day moving average of $38.73 and a 200 day moving average of $39.87. Innodata Inc. has a 52 week low of $10.66 and a 52 week high of $71.00.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm’s revenue for the quarter was up 120.1% on a year-over-year basis. On average, research analysts predict 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.