BWS Financial Raises Innodata (NASDAQ:INOD) Price Target to $45.00

Innodata (NASDAQ:INOD - Free Report) had its target price increased by BWS Financial from $30.00 to $45.00 in a research note published on Friday,Benzinga reports. BWS Financial currently has a buy rating on the technology company's stock.

Other analysts also recently issued research reports about the company. Maxim Group initiated coverage on Innodata in a report on Monday, July 15th. They set a "buy" rating and a $30.00 price objective on the stock. Craig Hallum assumed coverage on Innodata in a research report on Tuesday, September 17th. They set a "buy" rating and a $23.00 price objective for the company. Finally, StockNews.com upgraded shares of Innodata to a "sell" rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

Innodata Stock Performance

Shares of INOD traded up $18.44 during midday trading on Friday, hitting $42.78. 9,608,570 shares of the stock traded hands, compared to its average volume of 508,613. The firm has a market capitalization of $1.24 billion, a PE ratio of 475.39 and a beta of 2.30. The business's 50 day moving average price is $17.71 and its two-hundred day moving average price is $15.73. Innodata has a 1-year low of $5.46 and a 1-year high of $43.65. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.45 and a current ratio of 1.45.

Institutional Investors Weigh In On Innodata

Several institutional investors have recently modified their holdings of INOD. BNP Paribas Financial Markets boosted its holdings in Innodata by 11.2% during the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company's stock worth $147,000 after buying an additional 2,230 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 28,173 shares during the period. Elkhorn Partners Limited Partnership bought a new stake in Innodata in the first quarter valued at approximately $94,000. Price T Rowe Associates Inc. MD raised its holdings in Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company's stock worth $102,000 after purchasing an additional 982 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Innodata during the first quarter worth $8,142,000. Institutional investors and hedge funds own 30.75% of the company's stock.

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.