Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 91.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,329 shares of the technology company's stock after buying an additional 6,850 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Innodata were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in Innodata during the fourth quarter valued at $29,000. USA Financial Formulas acquired a new position in shares of Innodata during the 4th quarter worth about $36,000. AlphaQuest LLC raised its position in shares of Innodata by 79.4% during the 4th 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. SBI Securities Co. Ltd. purchased a new position in Innodata in the 4th quarter valued at about $150,000. Finally, Spire Wealth Management acquired a new stake in Innodata in the 4th quarter worth about $166,000. Institutional investors and hedge funds own 30.75% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on INOD. Chardan Capital reissued a "buy" rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Wedbush started coverage on Innodata in a research note on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price objective for the company. BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 21st. 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.com, Innodata currently has a consensus rating of "Moderate Buy" and an average target price of $53.00.
Check Out Our Latest Report on Innodata
Insider Buying and Selling at Innodata
In other Innodata news, COO Ashok Mishra sold 48,650 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now owns 60,000 shares of the company's stock, valued at $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock worth $17,790,794 in the last ninety days. 15.23% of the stock is owned by insiders.
Innodata Trading Up 6.2 %
NASDAQ INOD traded up $1.86 on Monday, reaching $31.83. 2,760,799 shares of the company were exchanged, compared to its average volume of 1,241,832. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business's fifty day moving average price is $45.02 and its 200 day moving average price is $36.48. The stock has a market capitalization of $996.28 million, a P/E ratio of 37.45 and a beta of 2.66. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $71.00.
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. 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. Analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.
About Innodata
(
Free Report)
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.
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