Innodata (NASDAQ:INOD) Earns Outperform Rating from Analysts at Wedbush

Wedbush started coverage on shares of Innodata (NASDAQ:INOD) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $48.00 price target on the technology company’s stock. Wedbush’s price target suggests a potential upside of 40.39% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. BWS Financial increased their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Craig Hallum started coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price for the company. Finally, StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and an average price target of $38.20.

Innodata Price Performance

Shares of INOD opened at $34.19 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $32.09 and its 200 day simple moving average is $21.79. Innodata has a 1-year low of $5.46 and a 1-year high of $55.17. The company has a market cap of $991.51 million, a price-to-earnings ratio of 57.95 and a beta of 2.56.

Insiders Place Their Bets

In related news, Director Nauman Sabeeh Toor sold 200,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total value of $9,074,000.00. Following the completion of the transaction, the director now owns 319,401 shares of the company’s stock, valued at $14,491,223.37. The trade was a 38.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now owns 25,262 shares in the company, valued at $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 924,876 shares of company stock worth $42,040,262 in the last quarter. Corporate insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

A number of institutional investors and hedge funds have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Innodata in the second quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. lifted its stake in Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 1,843 shares during the last quarter. Compass Ion Advisors LLC boosted its holdings in shares of Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock valued at $632,000 after purchasing an additional 2,011 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,207 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares during the last quarter. Institutional investors own 30.75% of the company’s stock.

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.