BWS Financial Issues Positive Forecast for Innodata (NASDAQ:INOD) Stock Price

Innodata (NASDAQ:INOD) had its target price hoisted by BWS Financial from $45.00 to $74.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. BWS Financial’s price target indicates a potential upside of 10.04% from the company’s previous close.

A number of other equities research analysts have also issued reports on INOD. Wedbush began coverage on Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Chardan Capital reissued a “buy” rating and set a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Innodata has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Innodata Price Performance

NASDAQ INOD traded up $12.69 during trading on Friday, hitting $67.25. 8,516,393 shares of the stock traded hands, compared to its average volume of 1,807,400. The company has a market capitalization of $1.95 billion, a P/E ratio of 115.06 and a beta of 2.57. The firm has a 50-day simple moving average of $41.05 and a 200-day simple moving average of $29.81. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a 12-month low of $5.46 and a 12-month high of $71.00.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data 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 business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a return on equity of 44.38% and a net margin of 14.57%. As a group, analysts predict that Innodata will post 0.62 EPS for the current year.

Insider Buying and Selling at Innodata

In other news, Director Nauman Sabeeh Toor sold 200,000 shares of Innodata stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $45.37, for a total value of $9,074,000.00. Following the transaction, the director now directly owns 319,401 shares in the company, valued at approximately $14,491,223.37. This trade represents a 38.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of Innodata stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the transaction, the director now owns 8,278 shares in the company, valued at $373,337.80. This represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 559,806 shares of company stock valued at $25,353,904 in the last ninety days. Corporate insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in Innodata during the 4th quarter valued at about $29,000. USA Financial Formulas acquired a new stake in shares of Innodata during the fourth quarter worth about $36,000. Meeder Asset Management Inc. purchased a new stake in Innodata in the fourth quarter valued at approximately $36,000. AlphaQuest LLC increased its holdings in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Innodata during the 4th quarter worth approximately $150,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.