Innodata Inc. (NASDAQ:INOD) Receives $35.75 Consensus Price Target from Brokerages

Shares of Innodata Inc. (NASDAQ:INOD - Get Free Report) have received a consensus recommendation of "Buy" from the four ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $35.75.

INOD has been the topic of a number of recent analyst reports. BWS Financial increased their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Craig Hallum assumed coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a "buy" rating and a $23.00 target price on the stock. Chardan Capital restated a "buy" rating and set a $45.00 price target on shares of Innodata in a research report on Friday. Finally, StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th.

Insider Activity

In other Innodata news, CEO Jack Abuhoff sold 225,000 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $55,116,044.04. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares of the company's stock, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 924,876 shares of company stock valued at $42,040,262. Insiders own 15.23% of the company's stock.

Institutional Trading of Innodata

Several large investors have recently bought and sold shares of INOD. Deerfield Management Company L.P. Series C grew its position in shares of Innodata by 309.5% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company's stock worth $1,658,000 after buying an additional 84,509 shares during the period. Rathbones Group PLC bought a new position in Innodata in the 2nd quarter valued at approximately $916,000. Marshall Wace LLP raised its stake in shares of Innodata by 83.9% in the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company's stock worth $1,266,000 after purchasing an additional 38,954 shares during the last quarter. Barclays PLC lifted its holdings 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 purchasing an additional 29,470 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company's stock valued at $9,639,000 after buying an additional 28,173 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Innodata Stock Performance

Shares of NASDAQ:INOD traded down $0.53 during midday trading on Friday, reaching $34.50. 2,220,586 shares of the company traded hands, compared to its average volume of 816,826. Innodata has a 12 month low of $5.46 and a 12 month high of $55.17. The firm's fifty day moving average price is $30.83 and its two-hundred day moving average price is $21.23. 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 firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 58.48 and a beta of 2.56.

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.