Intech Investment Management LLC Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Intech Investment Management LLC purchased a new stake in Innodata Inc. (NASDAQ:INOD) in the fourth quarter, Holdings Channel reports. The firm purchased 10,068 shares of the technology company’s stock, valued at approximately $398,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC boosted its holdings in Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares during the period. Allworth Financial LP bought a new position in shares of Innodata in the 4th quarter worth about $29,000. USA Financial Formulas acquired a new position in shares of Innodata in the 4th quarter valued at about $36,000. Principal Financial Group Inc. boosted its holdings in shares of Innodata by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock valued at $806,000 after buying an additional 1,828 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Innodata by 2.5% during 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 last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on INOD. Maxim Group raised their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. BWS Financial raised their price target on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wedbush initiated coverage on Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective for the company. Finally, Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Innodata has an average rating of “Moderate Buy” and an average target price of $53.00.

Insider Buying and Selling

In other news, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on 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 transaction, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock valued at $17,790,794 over the last 90 days. 15.23% of the stock is currently owned by company insiders.

Innodata Stock Performance

Shares of NASDAQ INOD opened at $44.35 on Wednesday. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $71.00. The company has a market cap of $1.39 billion, a PE ratio of 52.18 and a beta of 2.59. The stock has a 50 day simple moving average of $45.31 and a 200-day simple moving average of $35.13. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping 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 return on equity of 66.36% and a net margin of 16.81%. On average, equities research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

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.