Innodata (NASDAQ:INOD) Now Covered by Wedbush

Wedbush initiated coverage on shares of Innodata (NASDAQ:INOD) in a report released on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $48.00 price target on the technology company’s stock.

Several other research firms have also recently commented on INOD. Craig Hallum assumed coverage on Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price for the company. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. BWS Financial boosted their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Innodata currently has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Stock Up 8.2 %

Shares of NASDAQ INOD opened at $43.01 on Thursday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 72.90 and a beta of 2.56. Innodata has a 1 year low of $5.46 and a 1 year high of $55.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $33.10 and its 200-day simple moving average is $22.17.

Insider Activity at Innodata

In related news, Director Louise C. Forlenza sold 4,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $45.10, for a total transaction of $180,400.00. Following the completion of the transaction, the director now directly owns 8,278 shares in the company, valued at $373,337.80. This represents a 32.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Abuhoff sold 225,000 shares of Innodata stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the sale, the chief executive officer now directly owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 924,876 shares of company stock valued at $42,040,262 in the last quarter. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INOD. Bank of New York Mellon Corp lifted its holdings in Innodata by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock worth $1,158,000 after purchasing an additional 12,515 shares during the period. nVerses Capital LLC bought a new stake in shares of Innodata during the 2nd quarter worth about $27,000. Rhumbline Advisers lifted its stake in shares of Innodata by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 37,725 shares of the technology company’s stock worth $559,000 after acquiring an additional 6,066 shares during the period. Rathbones Group PLC bought a new position in shares of Innodata in the second quarter valued at approximately $916,000. Finally, XTX Topco Ltd acquired a new position in shares of Innodata during the second quarter valued at approximately $285,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.