JPMorgan Chase & Co. Grows Stake in Innodata Inc. (NASDAQ:INOD)

JPMorgan Chase & Co. grew its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 2,038.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 308,095 shares of the technology company's stock after purchasing an additional 293,687 shares during the quarter. JPMorgan Chase & Co. owned about 1.06% of Innodata worth $12,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INOD. Vanguard Group Inc. raised its stake in Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after buying an additional 117,000 shares during the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 13,609 shares in the last quarter. State Street Corp lifted its stake 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 valued at $9,011,000 after purchasing an additional 9,408 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after purchasing an additional 1,843 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Innodata by 30.7% during the fourth quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company's stock worth $2,854,000 after purchasing an additional 16,961 shares during the period. Institutional investors and hedge funds own 30.75% of the company's stock.

Wall Street Analysts Forecast Growth

INOD has been the topic of a number of research analyst reports. Wedbush began coverage on Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. 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, February 21st. Finally, BWS Financial upped their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Innodata has a consensus rating of "Moderate Buy" and a consensus price target of $53.00.

Insider Buying and Selling

In other Innodata news, COO Ashok Mishra sold 48,650 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the sale, the chief operating officer now owns 60,000 shares in the company, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,427 shares of company stock worth $17,790,794. 15.23% of the stock is owned by corporate insiders.

Innodata Stock Down 4.8 %

Shares of Innodata stock traded down $1.68 during trading hours on Friday, reaching $33.10. The company's stock had a trading volume of 905,925 shares, compared to its average volume of 1,287,577. The company has a market capitalization of $1.04 billion, a P/E ratio of 38.94 and a beta of 2.66. The stock's fifty day simple moving average is $44.19 and its two-hundred day simple moving average is $37.52. Innodata Inc. has a one year low of $5.46 and a one year high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.20. The business had revenue of $59.18 million for 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%. On average, research analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

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.