Franklin Resources Inc. Invests $689,000 in Innodata Inc. (NASDAQ:INOD)

Franklin Resources Inc. purchased a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,437 shares of the technology company's stock, valued at approximately $689,000. Franklin Resources Inc. owned approximately 0.06% of Innodata as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after buying an additional 1,843 shares during the period. State Street Corp grew its stake in shares of Innodata by 1.8% in the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company's stock worth $9,011,000 after buying an additional 9,408 shares during the last quarter. Barclays PLC increased its position in Innodata by 324.3% during 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. Geode Capital Management LLC raised its stake in Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after buying an additional 13,609 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Innodata during the third quarter valued at $311,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. This represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock valued at $17,790,794 over the last ninety days. 15.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INOD. BWS Financial increased their price target 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 upped their target price on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Innodata Price Performance

Shares of NASDAQ:INOD traded down $1.68 during mid-day trading on Friday, reaching $33.10. The stock had a trading volume of 905,925 shares, compared to its average volume of 1,291,712. The business's 50 day moving average price is $44.19 and its 200 day moving average price is $37.52. Innodata Inc. has a 1 year low of $5.46 and a 1 year high of $71.00. The company has a market cap of $1.04 billion, a P/E ratio of 38.94 and a beta of 2.66. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly 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. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. Research analysts expect that Innodata Inc. will post 0.81 EPS 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.