Massachusetts Financial Services Co. MA Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Massachusetts Financial Services Co. MA acquired a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 13,570 shares of the technology company's stock, valued at approximately $536,000.

A number of other large investors have also recently made changes to their positions in INOD. AlphaQuest LLC increased its position in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after purchasing an additional 456 shares during the last quarter. Allworth Financial LP bought a new position in shares of Innodata in the 4th quarter worth $29,000. USA Financial Formulas purchased a new stake in shares of Innodata during the 4th quarter valued at $36,000. Meeder Asset Management Inc. bought a new stake in shares of Innodata during the 4th quarter worth $36,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Innodata by 9.9% during the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company's stock worth $806,000 after acquiring an additional 1,828 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Innodata Trading Down 0.9 %

INOD traded down $0.31 on Tuesday, hitting $34.86. 292,887 shares of the company were exchanged, compared to its average volume of 1,270,389. 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 Inc. has a 12 month low of $5.46 and a 12 month high of $71.00. The firm has a fifty day simple moving average of $44.85 and a two-hundred day simple moving average of $37.31. The stock has a market capitalization of $1.09 billion, a PE ratio of 40.85 and a beta of 2.66.

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Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million for the quarter, compared to analysts' expectations of $53.01 million. Sell-side analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BWS Financial raised their price target on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Maxim Group raised their price objective on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Wedbush started coverage on Innodata in a research report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 target price for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Insider Buying and Selling at Innodata

In other news, CFO Marissa B. Espineli sold 30,000 shares of Innodata 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 sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the transaction, the director now owns 12,417 shares of the company's stock, valued at approximately $799,654.80. This represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,427 shares of company stock worth $17,790,794. 15.23% of the stock is currently owned by company insiders.

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.