Innodata Inc. (NASDAQ:INOD) Receives Consensus Rating of “Buy” from Brokerages

Innodata Inc. (NASDAQ:INOD) has received an average rating of “Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $53.00.

Several equities analysts recently issued reports on the company. BWS Financial raised their price target on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. Wedbush started coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, Maxim Group upped their target price on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st.

Insiders Place Their Bets

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the transaction, the director now owns 12,417 shares of the company’s stock, valued at $799,654.80. The trade was a 94.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,427 shares of company stock worth $17,790,794. 15.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allworth Financial LP purchased a new position in Innodata in the 4th quarter worth approximately $29,000. USA Financial Formulas bought a new stake in shares of Innodata in the 4th quarter worth $36,000. Meeder Asset Management Inc. purchased a new position in shares of Innodata in the fourth quarter worth $36,000. AlphaQuest LLC lifted its holdings in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Innodata during the fourth quarter valued at $150,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Price Performance

INOD opened at $41.82 on Friday. The stock’s 50 day simple moving average is $44.85 and its 200 day simple moving average is $34.57. 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 has a 1 year low of $5.46 and a 1 year high of $71.00. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 49.20 and a beta of 2.59.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. As a group, analysts predict that Innodata will post 0.81 earnings per share for the current year.

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.