Bank of New York Mellon Corp Increases Stock Holdings in Innodata Inc. (NASDAQ:INOD)

Bank of New York Mellon Corp increased its stake in shares of Innodata Inc. (NASDAQ:INOD) by 19.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 78,057 shares of the technology company’s stock after purchasing an additional 12,515 shares during the quarter. Bank of New York Mellon Corp’s holdings in Innodata were worth $1,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after acquiring an additional 28,173 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Innodata in the 1st quarter worth about $8,142,000. Plustick Management LLC lifted its stake in Innodata by 2.6% in the fourth quarter. Plustick Management LLC now owns 400,000 shares of the technology company’s stock worth $3,256,000 after purchasing an additional 10,000 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Innodata by 128.5% in the first quarter. GSA Capital Partners LLP now owns 137,664 shares of the technology company’s stock worth $909,000 after purchasing an additional 77,410 shares during the last quarter. Finally, Platform Technology Partners boosted its position in shares of Innodata by 5.2% during the fourth quarter. Platform Technology Partners now owns 28,661 shares of the technology company’s stock valued at $233,000 after buying an additional 1,408 shares during the period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Price Performance

INOD opened at $13.95 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $17.11 and its 200-day simple moving average is $12.65. The company has a market capitalization of $401.10 million, a price-to-earnings ratio of 232.50 and a beta of 2.32. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $21.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on INOD shares. Craig Hallum initiated coverage on Innodata in a research note on Tuesday. They set a “buy” rating and a $23.00 price target for the company. Maxim Group assumed coverage on shares of Innodata in a report on Monday, July 15th. They issued a “buy” rating and a $30.00 price target on the stock. StockNews.com lowered shares of Innodata from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Finally, BWS Financial upped their target price on shares of Innodata from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

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.