Innodata Inc. (NASDAQ:INOD) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Innodata Inc. (NASDAQ:INOD) have been given an average recommendation of “Buy” by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $38.20.

Several brokerages have issued reports on INOD. Wedbush started coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. BWS Financial lifted their price target on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th.

Innodata Stock Performance

Shares of INOD opened at $42.88 on Friday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 72.68 and a beta of 2.57. Innodata has a 52-week low of $5.46 and a 52-week high of $55.17. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $39.18 and a 200 day moving average price of $27.56.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.28. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The firm had revenue of $52.22 million for the quarter, compared to the consensus estimate of $35.47 million. During the same period last year, the firm posted $0.01 EPS. Research analysts predict that Innodata will post 0.62 EPS for the current fiscal year.

Insider Transactions at Innodata

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the sale, the director now owns 209,194 shares in the company, valued at approximately $9,204,536. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,035,083 shares of company stock worth $46,889,370. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in Innodata during the 3rd quarter valued at about $311,000. Los Angeles Capital Management LLC acquired a new stake in shares of Innodata in the third quarter valued at approximately $330,000. Geode Capital Management LLC increased its stake in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares in the last quarter. Silverleafe Capital Partners LLC acquired a new position in shares of Innodata during the 4th quarter worth approximately $913,000. Finally, Barclays PLC lifted its stake in Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock valued at $647,000 after buying an additional 29,470 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.