Vanguard Group Inc. Acquires 117,000 Shares of Innodata Inc. (NASDAQ:INOD)

Vanguard Group Inc. boosted its stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,639,724 shares of the technology company's stock after acquiring an additional 117,000 shares during the quarter. Vanguard Group Inc. owned about 5.65% of Innodata worth $64,802,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Innodata by 2.5% in the third 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. BNP Paribas Financial Markets lifted its stake 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 worth $225,000 after acquiring an additional 3,739 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Innodata in the third quarter valued at about $206,000. 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 worth $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock valued at $647,000 after purchasing an additional 29,470 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

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Innodata Stock Performance

NASDAQ:INOD traded down $1.02 during mid-day trading on Wednesday, hitting $34.69. The stock had a trading volume of 113,630 shares, compared to its average volume of 1,274,027. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $71.00. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 40.85 and a beta of 2.66. The company has a 50 day simple moving average of $44.77 and a 200-day simple moving average of $37.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

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, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The company had revenue of $59.18 million during the quarter, compared to analysts' expectations of $53.01 million. On average, research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Ashok Mishra sold 48,650 shares of the company'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 transaction, the chief operating officer now directly owns 60,000 shares of the company's stock, valued at approximately $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction that occurred 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 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. Insiders have sold a total of 275,427 shares of company stock valued at $17,790,794 over the last quarter. Corporate insiders own 15.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on INOD shares. BWS Financial increased their price objective 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. Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target for the company. One investment 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.00.

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.