Innodata Inc. (NASDAQ:INOD) Given Average Recommendation of "Buy" by Brokerages

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) have received a consensus recommendation of "Buy" from the five ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $53.00.

A number of research firms recently issued reports on INOD. Wedbush initiated coverage on Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price objective for the company. Chardan Capital reissued a "buy" rating and issued a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. BWS Financial boosted 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. Finally, Maxim Group boosted their target price 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.

Innodata Stock Down 7.0 %

NASDAQ INOD traded down $3.11 during trading on Friday, reaching $41.24. 961,625 shares of the company's stock were exchanged, compared to its average volume of 1,180,660. 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 has a fifty-two week low of $5.46 and a fifty-two week high of $71.00. The company's fifty day simple moving average is $45.31 and its 200-day simple moving average is $35.13. The firm has a market capitalization of $1.29 billion, a PE ratio of 48.52 and a beta of 2.59.

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Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly 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. The business had revenue of $59.18 million during the quarter, compared to analysts' expectations of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Sell-side analysts predict that Innodata will post 0.81 EPS for the current year.

Insider Buying and Selling

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 in the last three months. Insiders own 15.23% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock valued at $64,802,000 after buying an additional 117,000 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Innodata by 1,718.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after purchasing an additional 892,663 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 during the last quarter. State Street Corp boosted its position 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 purchasing an additional 9,408 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Innodata during the fourth quarter worth $16,713,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Company 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.