Canada Pension Plan Investment Board Takes $2.29 Million Position in Innodata Inc. (NASDAQ:INOD)

Canada Pension Plan Investment Board bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 57,900 shares of the technology company's stock, valued at approximately $2,288,000. Canada Pension Plan Investment Board owned approximately 0.20% of Innodata as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in Innodata in the 4th quarter valued at $29,000. USA Financial Formulas bought a new position in shares of Innodata during the fourth quarter worth about $36,000. Meeder Asset Management Inc. acquired a new stake in Innodata in the 4th quarter valued at approximately $36,000. AlphaQuest LLC lifted its stake in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after acquiring an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Innodata during the 4th quarter worth approximately $150,000. Institutional investors own 30.75% of the company's stock.

Innodata Trading Up 1.6 %

Shares of NASDAQ:INOD traded up $0.61 during midday trading on Friday, hitting $38.07. 827,664 shares of the stock were exchanged, compared to its average volume of 1,306,594. The business's 50-day moving average price is $42.37 and its 200 day moving average price is $38.16. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 44.79 and a beta of 2.66. Innodata Inc. has a 12 month low of $5.80 and a 12 month high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

INOD has been the topic of a number of recent research reports. BWS Financial lifted their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. Maxim Group increased their price target on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Innodata has an average rating of "Moderate Buy" and an average price target of $53.00.

Insiders Place Their Bets

In related news, COO Ashok Mishra sold 48,650 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the sale, the chief operating officer now owns 60,000 shares of the company's stock, valued at approximately $3,904,200. This represents a 44.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the transaction, the chief financial officer now directly owns 18,000 shares of the company's stock, valued at $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,427 shares of company stock valued at $17,790,794. Corporate insiders own 15.23% of the company's stock.

Innodata 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.