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

Shares of Innodata Inc. (NASDAQ:INOD) have been given an average rating of “Buy” by the five ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $53.00.

INOD has been the topic of a number of recent analyst reports. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. BWS Financial increased their price target on shares of 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 shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. Chardan Capital restated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Finally, Maxim Group upped their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 21st.

Innodata Price Performance

Shares of NASDAQ:INOD opened at $52.72 on Wednesday. The company’s 50-day moving average is $43.49 and its 200 day moving average is $31.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $1.53 billion, a P/E ratio of 62.02 and a beta of 2.57. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $71.00.

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

Insider Buying and Selling at Innodata

In other Innodata news, Director Nauman Sabeeh Toor sold 200,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $45.37, for a total transaction of $9,074,000.00. Following the transaction, the director now directly owns 319,401 shares in the company, valued at $14,491,223.37. This trade represents a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 644,134 shares of company stock worth $34,344,647 over the last ninety days. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after purchasing an additional 117,000 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock valued at $37,331,000 after purchasing an additional 892,663 shares during the period. Geode Capital Management LLC boosted its stake in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after purchasing an additional 13,609 shares during the period. State Street Corp boosted its stake in shares of Innodata by 1.8% during the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after purchasing an additional 9,408 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Innodata during the fourth quarter valued at approximately $16,713,000. 30.75% of the stock is currently owned by institutional investors.

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.