Innodata Inc. (NASDAQ:INOD) Receives $35.75 Average PT from Brokerages

Shares of Innodata Inc. (NASDAQ:INOD) have been assigned an average rating of “Buy” from the four ratings firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $35.75.

INOD has been the subject of a number of research analyst reports. Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Craig Hallum began coverage on Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, BWS Financial boosted their price objective on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Insider Buying and Selling

In related news, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the sale, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total value of $4,002,054.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 924,876 shares of company stock worth $42,040,262. 15.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Innodata

Several institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its holdings in Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after buying an additional 29,470 shares in the last quarter. Geode Capital Management LLC boosted its position in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares during the last quarter. State Street Corp boosted its position in Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Innodata in the third quarter worth $206,000. Finally, Centiva Capital LP purchased a new position in Innodata in the third quarter worth $318,000. Institutional investors own 30.75% of the company’s stock.

Innodata Trading Down 0.5 %

Shares of INOD stock opened at $37.57 on Friday. The company has a market cap of $1.09 billion, a P/E ratio of 63.68 and a beta of 2.56. The stock has a 50 day simple moving average of $31.71 and a two-hundred day simple moving average of $21.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $55.17.

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.