Allworth Financial LP Buys Shares of 728 Innodata Inc. (NASDAQ:INOD)

Allworth Financial LP bought a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 728 shares of the technology company’s stock, valued at approximately $29,000.

A number of other hedge funds have also made changes to their positions in INOD. USA Financial Formulas acquired a new position in shares of Innodata during the fourth quarter valued at approximately $36,000. Spire Wealth Management purchased a new stake in shares of Innodata in the fourth quarter valued at approximately $166,000. Point72 Asset Management L.P. purchased a new stake in shares of Innodata in the third quarter valued at approximately $206,000. BNP Paribas Financial Markets grew 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 purchasing an additional 3,739 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Innodata by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company’s stock valued at $242,000 after purchasing an additional 2,099 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INOD. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. BWS Financial upped their price target on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. Wedbush initiated coverage on Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, Maxim Group increased their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Innodata currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Insiders Place Their Bets

In other Innodata news, COO Ashok Mishra sold 58,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total transaction of $2,630,745.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the transaction, the director now directly owns 209,194 shares in the company, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 565,484 shares of company stock valued at $29,226,292. 15.23% of the stock is currently owned by insiders.

Innodata Stock Up 10.4 %

Innodata stock opened at $64.17 on Thursday. Innodata Inc. has a 1-year low of $5.46 and a 1-year high of $71.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $1.86 billion, a PE ratio of 75.50 and a beta of 2.57. The stock’s fifty day moving average is $42.44 and its two-hundred day moving average is $30.91.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $53.01 million. On average, sell-side analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal 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.