Bank of New York Mellon Corp Has $2.85 Million Stock Position in Innodata Inc. (NASDAQ:INOD)

Bank of New York Mellon Corp grew its holdings in Innodata Inc. (NASDAQ:INOD) by 30.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,226 shares of the technology company’s stock after purchasing an additional 16,961 shares during the period. Bank of New York Mellon Corp owned about 0.25% of Innodata worth $2,854,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INOD. Principal Financial Group Inc. lifted its holdings in Innodata by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock worth $806,000 after purchasing an additional 1,828 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Innodata in the 4th quarter valued at approximately $29,000. Calamos Advisors LLC bought a new stake in shares of Innodata in the 4th quarter worth about $283,000. Jennison Associates LLC bought a new stake in Innodata during the 4th quarter worth approximately $402,000. Finally, Spire Wealth Management acquired a new position in Innodata during the 4th quarter worth about $166,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Insiders Place Their Bets

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the transaction, the director now owns 12,417 shares in the company, valued at $799,654.80. The trade was a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock valued at $17,790,794 in the last 90 days. Corporate insiders own 15.23% of the company’s stock.

Analyst Ratings Changes

INOD has been the subject of several recent research reports. Chardan Capital reissued a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. BWS Financial increased their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Maxim Group lifted their price target on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Innodata Stock Performance

NASDAQ INOD opened at $42.99 on Friday. The company has a market capitalization of $1.35 billion, a P/E ratio of 50.58 and a beta of 2.59. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $44.73 and a two-hundred day moving average price of $34.27. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $71.00.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.20. The business had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Analysts anticipate that Innodata Inc. will post 0.81 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.