BWS Financial Issues Positive Forecast for Innodata (NASDAQ:INOD) Stock Price

Innodata (NASDAQ:INOD) had its price objective raised by BWS Financial from $45.00 to $74.00 in a research note released on Friday morning,Benzinga reports. BWS Financial currently has a buy rating on the technology company’s stock.

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

Innodata Trading Up 13.4 %

Shares of NASDAQ INOD opened at $61.89 on Friday. Innodata has a 1-year low of $5.46 and a 1-year high of $71.00. The business has a fifty day moving average price of $41.05 and a 200 day moving average price of $29.81. The stock has a market capitalization of $1.79 billion, a P/E ratio of 104.90 and a beta of 2.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Innodata (NASDAQ:INOD) last released its quarterly earnings results 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 14.57% and a return on equity of 44.38%. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Equities research analysts expect that Innodata will post 0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the transaction, the director now directly owns 209,194 shares of the company’s stock, valued at approximately $9,204,536. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of Innodata stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the sale, the director now directly owns 8,278 shares of the company’s stock, valued at $373,337.80. This trade represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 559,806 shares of company stock valued at $25,353,904. Insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Several large investors have recently made changes to their positions in the business. Private Advisor Group LLC raised its holdings in shares of Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,207 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Innodata during the 3rd quarter valued at about $311,000. Los Angeles Capital Management LLC acquired a new position in shares of Innodata in the 3rd quarter valued at about $330,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Innodata by 2.5% in the 3rd 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 during the period. Finally, BNP Paribas Financial Markets boosted 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 worth $225,000 after buying an additional 3,739 shares during the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.