Innodata Inc. (NASDAQ:INOD) Receives $35.75 Average Price Target from Analysts

Innodata Inc. (NASDAQ:INOD) has been given an average rating of “Buy” by the four ratings firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is $35.75.

A number of analysts recently issued reports on INOD shares. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Craig Hallum initiated coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target on the stock. BWS Financial boosted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday.

Insider Activity

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of Innodata stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the sale, the director now owns 25,262 shares of the company’s stock, valued at $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total value of $4,002,054.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 924,876 shares of company stock worth $42,040,262. 15.23% of the stock is currently owned by insiders.

Institutional Trading of Innodata

A number of hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C grew its position in 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. Rathbones Group PLC purchased a new position in Innodata in the 2nd quarter worth $916,000. Marshall Wace LLP raised its position in Innodata by 83.9% in the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 38,954 shares during the period. Barclays PLC lifted its stake in Innodata by 324.3% in the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after buying an additional 28,173 shares during the period. Institutional investors own 30.75% of the company’s stock.

Innodata Price Performance

Innodata stock opened at $34.50 on Friday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 58.47 and a beta of 2.56. Innodata has a one year low of $5.46 and a one year high of $55.17. 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 business has a fifty day moving average price of $30.83 and a 200-day moving average price of $21.29.

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.