Harvest Investment Services LLC Invests $747,000 in Innodata Inc. (NASDAQ:INOD)

Harvest Investment Services LLC purchased a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 18,899 shares of the technology company's stock, valued at approximately $747,000. Harvest Investment Services LLC owned about 0.07% of Innodata at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Innodata by 1.8% during the third 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 grew its position in Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock worth $647,000 after acquiring an additional 29,470 shares during the last quarter. Geode Capital Management LLC increased its holdings in Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock worth $10,294,000 after purchasing an additional 13,609 shares in the last quarter. Principal Financial Group Inc. bought a new position in Innodata in the third quarter valued at about $311,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Innodata by 17.1% during the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock valued at $242,000 after purchasing an additional 2,099 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Price Performance

INOD stock opened at $31.24 on Wednesday. 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 fifty day simple moving average is $43.49 and its 200 day simple moving average is $37.87. Innodata Inc. has a 12-month low of $5.50 and a 12-month high of $71.00. The firm has a market cap of $977.81 million, a price-to-earnings ratio of 36.75 and a beta of 2.66.

Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 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 business had revenue of $59.18 million during the quarter, compared to analysts' expectations of $53.01 million. On average, analysts expect 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 several recent research reports. BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Maxim Group lifted their price target 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $53.00.

Insider Activity

In related news, 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 value of $1,952,700.00. Following the transaction, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. 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 business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, 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. Insiders sold 275,427 shares of company stock worth $17,790,794 in the last quarter. 15.23% of the stock is owned by corporate insiders.

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.

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