Bank of New York Mellon Corp Purchases 16,961 Shares of Innodata Inc. (NASDAQ:INOD)

Bank of New York Mellon Corp raised its position in shares of Innodata Inc. (NASDAQ:INOD) by 30.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 72,226 shares of the technology company’s stock after acquiring an additional 16,961 shares during the quarter. Bank of New York Mellon Corp’s holdings in Innodata were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP bought a new stake in Innodata during the 4th quarter worth approximately $29,000. USA Financial Formulas bought a new stake in Innodata in the 4th quarter worth $36,000. Spire Wealth Management purchased a new stake in Innodata in the 4th quarter worth approximately $166,000. Point72 Asset Management L.P. bought a new position in Innodata in the 3rd quarter worth $206,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after acquiring an additional 3,739 shares during the period. Institutional investors own 30.75% of the company’s stock.

Innodata Stock Performance

NASDAQ:INOD opened at $42.99 on Friday. The firm has a market capitalization of $1.35 billion, a PE ratio of 50.58 and a beta of 2.59. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $71.00. The stock’s fifty day moving average is $44.73 and its 200 day moving average is $34.27. 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 (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. The company had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. On average, sell-side analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Innodata

In other Innodata news, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the sale, the chief operating officer now owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. The trade was a 44.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,427 shares of company stock valued at $17,790,794. Company insiders own 15.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on INOD shares. Chardan Capital reissued a “buy” rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. 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. Wedbush assumed coverage on shares of Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, BWS Financial upped 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.00.

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.