Prosperity Wealth Management Inc. Buys Shares of 8,050 Innodata Inc. (NASDAQ:INOD)

Prosperity Wealth Management Inc. acquired a new position in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,050 shares of the technology company's stock, valued at approximately $318,000.

Several other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock worth $10,294,000 after buying an additional 13,609 shares during the period. State Street Corp increased its holdings in Innodata by 1.8% during 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. increased its holdings in 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 during the period. Bank of New York Mellon Corp increased its holdings in Innodata by 30.7% during the 4th quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company's stock valued at $2,854,000 after purchasing an additional 16,961 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in Innodata during the 4th quarter valued at about $2,328,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Analysts Set New Price Targets

INOD has been the topic of a number of research analyst reports. StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Maxim Group boosted their price target on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. Chardan Capital restated a "buy" rating and set a $45.00 price target on shares of Innodata in a report on Friday, December 13th. BWS Financial lifted their price objective on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price objective on the stock. One 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Remove Ads

Innodata Stock Up 11.7 %

Shares of INOD traded up $5.04 during mid-day trading on Friday, reaching $48.18. The company had a trading volume of 2,607,426 shares, compared to its average volume of 2,150,830. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a 50-day moving average price of $44.38 and a 200 day moving average price of $33.65. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $71.00. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 56.68 and a beta of 2.59.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) 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 return on equity of 66.36% and a net margin of 16.81%. On average, sell-side analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Insider Activity at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,634 shares of company stock valued at $22,639,902. 15.23% of the stock is owned by corporate insiders.

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.