12,231 Shares in Innodata Inc. (NASDAQ:INOD) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,231 shares of the technology company's stock, valued at approximately $483,000.

Several other institutional investors have also recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of Innodata in the fourth quarter valued at $29,000. USA Financial Formulas bought a new position in shares of Innodata in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. bought a new position in shares of Innodata in the 4th quarter valued at about $150,000. Spire Wealth Management acquired a new position in shares of Innodata during the 4th quarter worth about $166,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Innodata in the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Stock Performance

INOD stock traded up $0.11 during trading hours on Friday, hitting $37.09. 950,212 shares of the stock were exchanged, compared to its average volume of 1,269,484. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $71.00. 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 firm has a market capitalization of $1.16 billion, a P/E ratio of 43.64 and a beta of 2.66. The company has a 50-day simple moving average of $44.93 and a two-hundred day simple moving average of $37.03.

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

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Wall Street Analysts Forecast Growth

A number of research firms recently commented on INOD. Wedbush began coverage on Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target for the company. BWS Financial lifted their target price on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Maxim Group increased their price target on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Chardan Capital reaffirmed a "buy" rating and set a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Insider Activity

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares of the company's stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,427 shares of company stock worth $17,790,794. Corporate insiders own 15.23% of the company's stock.

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.