Innodata Inc. (NASDAQ:INOD) Receives $53.00 Average PT from Brokerages

Innodata Inc. (NASDAQ:INOD) has been assigned an average rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $53.00.

A number of equities research analysts have commented on the company. Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. BWS Financial lifted their price objective on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Chardan Capital restated a “buy” rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th.

Innodata Stock Down 6.1 %

NASDAQ:INOD opened at $37.39 on Friday. Innodata has a one year low of $5.46 and a one year high of $71.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.17 billion, a PE ratio of 43.99 and a beta of 2.59. The firm’s 50 day simple moving average is $45.47 and its 200 day simple moving average is $35.52.

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

Insider Buying and Selling at Innodata

In other news, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the sale, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. The trade was a 44.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the 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 represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is currently owned by company insiders.

Institutional Trading of Innodata

Large investors have recently made changes to their positions in the company. Allworth Financial LP bought a new position in Innodata in the fourth quarter worth approximately $29,000. USA Financial Formulas acquired a new stake in Innodata in the 4th quarter valued at $36,000. Meeder Asset Management Inc. bought a new stake in Innodata during the 4th quarter valued at $36,000. AlphaQuest LLC raised its holdings in Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Innodata in the fourth quarter valued at $150,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.