JPMorgan Chase & Co. Increases Holdings in Innodata Inc. (NASDAQ:INOD)

JPMorgan Chase & Co. grew its stake in Innodata Inc. (NASDAQ:INOD) by 17.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,408 shares of the technology company’s stock after purchasing an additional 2,099 shares during the period. JPMorgan Chase & Co.’s holdings in Innodata were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Innodata by 2.5% in 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 buying an additional 1,843 shares during the period. Compass Ion Advisors LLC increased its position in shares of Innodata by 5.6% during the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after purchasing an additional 2,011 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,207 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Innodata by 38.5% during 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 during the last quarter. Finally, State Street Corp grew its position 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. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on INOD. BWS Financial upped their target price on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Insider Activity

In related news, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $43.16, for a total transaction of $4,002,054.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the transaction, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,035,083 shares of company stock worth $46,889,370 over the last ninety days. 15.23% of the stock is currently owned by insiders.

Innodata Price Performance

Shares of INOD opened at $37.08 on Friday. 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 company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 62.85 and a beta of 2.59. The firm has a 50-day simple moving average of $39.49 and a 200-day simple moving average of $26.91. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $55.17.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.28. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The firm had revenue of $52.22 million during the quarter, compared to the consensus estimate of $35.47 million. During the same quarter last year, the firm earned $0.01 earnings per share. On average, equities research analysts anticipate that Innodata Inc. will post 0.62 earnings per share for the current year.

About Innodata

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.