BWS Financial Boosts Innodata (NASDAQ:INOD) Price Target to $74.00

Innodata (NASDAQ:INOD) had its price objective hoisted by investment analysts at BWS Financial from $45.00 to $74.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. BWS Financial’s target price suggests a potential upside of 19.57% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Chardan Capital restated a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective for the company. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Innodata has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Price Performance

Shares of INOD opened at $61.89 on Friday. Innodata has a 52-week low of $5.46 and a 52-week high of $71.00. 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 business’s 50 day moving average price is $41.60 and its two-hundred day moving average price is $30.23. The firm has a market cap of $1.79 billion, a PE ratio of 72.81 and a beta of 2.57.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results 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 firm had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. On average, equities analysts anticipate that Innodata will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, COO Ashok Mishra sold 58,500 shares of the company’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Abuhoff sold 187,099 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.07, for a total value of $8,619,650.93. Following the sale, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $54,747,653.06. This trade represents a 13.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 559,806 shares of company stock worth $25,353,904. 15.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Innodata

Several large investors have recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company’s stock valued at $466,000 after purchasing an additional 232 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Innodata by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company’s stock valued at $447,000 after purchasing an additional 300 shares during the last quarter. AlphaQuest LLC increased its position in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Innodata by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock valued at $608,000 after purchasing an additional 533 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of Innodata during the 4th quarter valued at $29,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.