Brokerages Set Innodata Inc. (NASDAQ:INOD) PT at $38.20

Innodata Inc. (NASDAQ:INOD) has received a consensus rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.20.

A number of research analysts have issued reports on the stock. BWS Financial raised their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Wedbush initiated coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Craig Hallum started coverage on Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock.

Insider Transactions at Innodata

In other Innodata news, Director Louise C. Forlenza sold 4,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.10, for a total transaction of $180,400.00. Following the transaction, the director now owns 8,278 shares in the company, valued at approximately $373,337.80. This represents a 32.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the sale, the director now owns 209,194 shares of the company’s stock, valued at $9,204,536. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,035,083 shares of company stock valued at $46,889,370 in the last 90 days. 15.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innodata

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares in the last quarter. State Street Corp increased its stake 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 buying an additional 9,408 shares in the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of Innodata by 309.5% during the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after acquiring an additional 84,509 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Innodata by 83.9% in the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock valued at $1,266,000 after acquiring an additional 38,954 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Innodata by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 12,515 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Price Performance

Shares of INOD stock opened at $36.76 on Tuesday. Innodata has a fifty-two week low of $5.46 and a fifty-two week high of $55.17. 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 firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 62.31 and a beta of 2.59. The stock’s 50-day simple moving average is $39.35 and its 200-day simple moving average is $24.72.

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.