Innodata Inc. (NASDAQ:INOD) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) have earned a consensus recommendation of "Buy" from the five research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $38.20.

Several brokerages have recently commented on INOD. BWS Financial boosted their price objective on Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Chardan Capital restated a "buy" rating and issued a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. Craig Hallum started coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a "buy" rating and a $23.00 price objective on the stock. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Finally, Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target on the stock.

Insider Transactions at Innodata

In related news, CEO Jack Abuhoff sold 225,000 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the transaction, the chief executive officer now directly owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the completion of the sale, the director now directly owns 209,194 shares of the company's stock, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock worth $46,889,370 in the last three months. Insiders own 15.23% of the company's stock.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently modified their holdings of INOD. Silverleafe Capital Partners LLC bought a new stake in Innodata during the 4th quarter valued at about $913,000. JPMorgan Chase & Co. grew its stake in Innodata by 17.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock worth $242,000 after acquiring an additional 2,099 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Innodata during the third quarter worth approximately $311,000. Barclays PLC raised its stake in shares of Innodata by 324.3% during the third quarter. Barclays PLC now owns 38,557 shares of the technology company's stock valued at $647,000 after acquiring an additional 29,470 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after purchasing an additional 13,609 shares during the period. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Price Performance

Shares of INOD traded down $4.66 during trading hours on Tuesday, reaching $39.10. 2,473,054 shares of the stock traded hands, compared to its average volume of 1,643,970. The company has a market cap of $1.13 billion, a P/E ratio of 66.27 and a beta of 2.59. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $38.36 and its two-hundred day moving average price is $24.37. Innodata has a 52-week low of $5.46 and a 52-week high of $55.17.

About Innodata

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.