Innodata (NASDAQ:INOD) Hits New 12-Month High - What's Next?

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $62.32 and last traded at $59.52, with a volume of 3240734 shares traded. The stock had previously closed at $58.09.

Analyst Ratings Changes

Several brokerages have recently issued reports on INOD. StockNews.com upgraded shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Maxim Group raised 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. Wedbush assumed coverage on shares of Innodata in a research note 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 note on Friday, December 13th. Finally, BWS Financial upped their price target on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Innodata Price Performance

The stock has a market cap of $1.79 billion, a P/E ratio of 104.90 and a beta of 2.57. The business's 50 day moving average price is $41.05 and its two-hundred day moving average price is $29.81. 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 earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. The firm had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a net margin of 14.57% and a return on equity of 44.38%. As a group, sell-side analysts expect that Innodata Inc. will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Innodata news, COO Ashok Mishra sold 58,500 shares of Innodata stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $44.97, for a total value of $2,630,745.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the company's stock in a transaction that occurred on 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 transaction, the director now owns 209,194 shares in the company, valued at approximately $9,204,536. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 559,806 shares of company stock valued at $25,353,904. 15.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Innodata

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock valued at $250,000 after purchasing an additional 2,207 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Innodata during the third quarter valued at $311,000. Los Angeles Capital Management LLC purchased a new stake in shares of Innodata during the third quarter valued at $330,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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 last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock worth $225,000 after buying an additional 3,739 shares in the last quarter. Institutional investors own 30.75% of the company's stock.

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.