Precision Wealth Strategies LLC Invests $466,000 in Innodata Inc. (NASDAQ:INOD)

Precision Wealth Strategies LLC bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,792 shares of the technology company's stock, valued at approximately $466,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in Innodata in the fourth quarter valued at $36,000. Harbour Capital Advisors LLC acquired a new stake in Innodata in the fourth quarter valued at $292,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Innodata in the fourth quarter valued at $371,000. Point72 Asset Management L.P. purchased a new position in shares of Innodata in the third quarter valued at $206,000. Finally, BNP Paribas Financial Markets increased its position in shares of Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after buying an additional 3,739 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Stock Performance

INOD stock traded up $0.05 during trading on Wednesday, reaching $38.80. 459,338 shares of the company's stock were exchanged, compared to its average volume of 1,249,625. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a 1-year low of $5.46 and a 1-year high of $55.17. The company's fifty day moving average price is $39.13 and its 200-day moving average price is $27.39. The firm has a market cap of $1.13 billion, a PE ratio of 65.56 and a beta of 2.57.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.28. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The company had revenue of $52.22 million during the quarter, compared to analyst estimates of $35.47 million. During the same quarter in the previous year, the firm posted $0.01 EPS. On average, research analysts expect that Innodata Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity at Innodata

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the completion of the sale, the director now directly owns 209,194 shares in the company, valued at $9,204,536. The trade was a 34.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack Abuhoff sold 225,000 shares of Innodata stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the sale, the chief executive officer now owns 1,188,358 shares of the company's stock, valued at approximately $55,116,044.04. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,035,083 shares of company stock worth $46,889,370 in the last quarter. 15.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INOD has been the subject of a number of recent research reports. BWS Financial lifted their price objective on Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. StockNews.com raised Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Chardan Capital reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Finally, Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Innodata has a consensus rating of "Moderate Buy" and an average target price of $38.20.

Innodata 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.