Next Century Growth Investors LLC Cuts Stock Holdings in Innodata Inc. (NASDAQ:INOD)

Next Century Growth Investors LLC reduced its stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 54.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,289 shares of the technology company's stock after selling 491,135 shares during the quarter. Next Century Growth Investors LLC owned about 1.39% of Innodata worth $15,938,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INOD. Raymond James Financial Inc. purchased a new position in shares of Innodata in the 4th quarter worth about $483,000. Rathbones Group PLC raised its position in Innodata by 42.4% in the 4th quarter. Rathbones Group PLC now owns 123,014 shares of the technology company's stock worth $4,862,000 after buying an additional 36,605 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock valued at $466,000 after acquiring an additional 232 shares during the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of Innodata during the fourth quarter valued at approximately $508,000. Finally, Russell Investments Group Ltd. lifted its position in Innodata by 2,465.7% during the fourth quarter. Russell Investments Group Ltd. now owns 6,286 shares of the technology company's stock valued at $248,000 after purchasing an additional 6,041 shares during the period. Institutional investors own 30.75% of the company's stock.

Insiders Place Their Bets

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm'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 completion of the sale, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the transaction, the chief financial officer now directly owns 18,000 shares of the company's stock, valued at approximately $1,171,620. This represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 in the last three months. Corporate insiders own 15.23% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wedbush started coverage on shares of Innodata in a research note on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Maxim Group lifted their price target on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $53.00.

Innodata Price Performance

Shares of INOD stock traded up $0.54 during trading hours on Tuesday, hitting $35.70. The stock had a trading volume of 1,306,214 shares, compared to its average volume of 1,278,579. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 42.00 and a beta of 2.66. The stock's 50-day moving average price is $44.85 and its two-hundred day moving average price is $37.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata Inc. has a one year low of $5.46 and a one year high of $71.00.

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