Dynamic Technology Lab Private Ltd acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,646 shares of the technology company's stock, valued at approximately $421,000.
Several other hedge funds also recently added to or reduced their stakes in INOD. JPMorgan Chase & Co. increased its holdings in Innodata by 2,038.4% in the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock valued at $12,176,000 after buying an additional 293,687 shares during the last quarter. Wellington Management Group LLP bought a new stake in Innodata during the fourth quarter valued at $11,283,000. Trexquant Investment LP raised its holdings in shares of Innodata by 222.8% during the fourth quarter. Trexquant Investment LP now owns 300,488 shares of the technology company's stock worth $11,875,000 after purchasing an additional 207,409 shares during the period. Vanguard Group Inc. lifted its position in shares of Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after buying an additional 117,000 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in shares of Innodata in the 4th quarter valued at about $2,328,000. 30.75% of the stock is owned by institutional investors and hedge funds.
Innodata Price Performance
Shares of Innodata stock traded up $0.26 on Monday, hitting $37.35. The company had a trading volume of 314,933 shares, compared to its average volume of 1,270,413. Innodata Inc. has a 52 week low of $5.46 and a 52 week 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 43.94 and a beta of 2.66. The business has a 50-day simple moving average of $44.93 and a 200-day simple moving average of $37.18.
Innodata (NASDAQ:INOD - Get Free Report) last issued 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 return on equity of 66.36% and a net margin of 16.81%. The company had revenue of $59.18 million for the quarter, compared to analysts' expectations of $53.01 million. Research analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. BWS Financial increased their price target on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wedbush started coverage on shares of Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target for the company. Finally, Maxim Group increased their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a 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, Innodata presently has an average rating of "Moderate Buy" and an average target price of $53.00.
Read Our Latest Stock Report on INOD
Insider Buying and Selling at Innodata
In other news, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction on 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 directly owns 60,000 shares of the company's stock, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the transaction, the director now owns 12,417 shares of the company's stock, valued at $799,654.80. This trade represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is owned by insiders.
About Innodata
(
Free Report)
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.
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