Bank of New York Mellon Corp Has $2.85 Million Holdings in Innodata Inc. (NASDAQ:INOD)

Bank of New York Mellon Corp raised its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,226 shares of the technology company's stock after buying an additional 16,961 shares during the period. Bank of New York Mellon Corp owned 0.25% of Innodata worth $2,854,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Allworth Financial LP bought a new stake in shares of Innodata during the 4th quarter worth $29,000. USA Financial Formulas bought a new stake in Innodata during the fourth quarter valued at about $36,000. Spire Wealth Management acquired a new stake in shares of Innodata in the fourth quarter valued at about $166,000. Point72 Asset Management L.P. bought a new position in shares of Innodata in the third quarter worth about $206,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock worth $225,000 after purchasing an additional 3,739 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,427 shares of company stock worth $17,790,794. Corporate insiders own 15.23% of the company's stock.

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Analyst Ratings Changes

A number of analysts have issued reports on INOD shares. BWS Financial raised their target price on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. Chardan Capital reaffirmed a "buy" rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They set an "outperform" rating and a $48.00 target price for the company. Finally, Maxim Group raised their price target 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.00.

Innodata Trading Up 10.3 %

NASDAQ:INOD traded up $4.30 during trading hours on Monday, hitting $46.12. 2,046,985 shares of the stock were exchanged, compared to its average volume of 1,176,003. The company has a market capitalization of $1.44 billion, a P/E ratio of 54.26 and a beta of 2.59. 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 company's 50 day moving average is $44.85 and its two-hundred day moving average is $34.70. Innodata Inc. has a twelve month low of $5.46 and a twelve month high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The company had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. On average, sell-side analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

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.