Innodata (NASDAQ:INOD) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Innodata (NASDAQ:INOD) from a sell rating to a hold rating in a research note published on Saturday.

Several other brokerages have also recently weighed in on INOD. Craig Hallum initiated coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target for the company. BWS Financial raised their target price on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Innodata currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Stock Performance

INOD opened at $44.68 on Friday. 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 company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 75.73 and a beta of 2.30. The business’s 50-day moving average price is $20.84 and its two-hundred day moving average price is $17.29. Innodata has a 1 year low of $5.46 and a 1 year high of $49.72.

Insider Transactions at Innodata

In other news, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at $1,024,374.10. The trade was a 66.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ashok Mishra sold 92,726 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $43.16, for a total transaction of $4,002,054.16. The disclosure for this sale can be found here. Company insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INOD. Vanguard Group Inc. lifted its holdings in Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Innodata in the first quarter valued at about $8,142,000. Geode Capital Management LLC lifted its stake in shares of Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after buying an additional 13,609 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 during the period. Finally, Deerfield Management Company L.P. Series C grew its stake in Innodata by 309.5% in the 2nd 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 buying an additional 84,509 shares during the last quarter. 30.75% of the stock is currently owned by 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.