Innodata (NASDAQ:INOD) Director Sells $535,400.00 in Stock

Innodata Inc. (NASDAQ:INOD) Director Louise Forlenza sold 10,000 shares of Innodata stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $53.54, for a total value of $535,400.00. Following the completion of the sale, the director owned 5,424 shares of the company’s stock, valued at $290,400.96. The trade was a 64.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Innodata Stock Performance

NASDAQ:INOD traded down $0.87 during mid-day trading on Tuesday, reaching $54.37. The company’s stock had a trading volume of 1,108,627 shares, compared to its average volume of 1,472,554. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.87 billion, a P/E ratio of 41.19 and a beta of 2.88. The firm’s fifty day moving average price is $60.90 and its two-hundred day moving average price is $64.13. Innodata Inc. has a 12-month low of $34.23 and a 12-month high of $125.14.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. Innodata had a net margin of 14.66% and a return on equity of 37.79%. The firm had revenue of $92.14 million for the quarter, compared to the consensus estimate of $86.31 million. During the same quarter last year, the firm posted $0.20 EPS. The business’s quarterly revenue was up 57.8% compared to the same quarter last year. On average, equities analysts forecast that Innodata Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INOD. Wedbush raised their target price on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. BWS Financial reissued a “top pick” rating and set a $140.00 price target on shares of Innodata in a report on Friday, August 7th. Finally, Weiss Ratings downgraded Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Hedge Funds Weigh In On Innodata

Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in Innodata by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock worth $20,315,000 after acquiring an additional 63,779 shares during the period. Bleakley Financial Group LLC bought a new position in shares of Innodata in the fourth quarter worth approximately $900,000. Next Century Growth Investors LLC boosted its position in shares of Innodata by 107.5% in the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock worth $18,639,000 after purchasing an additional 189,488 shares during the period. Rathbones Group PLC boosted its position in shares of Innodata by 20.8% in the first quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock worth $5,571,000 after purchasing an additional 24,837 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Innodata by 16.7% in the first quarter. Royal Bank of Canada now owns 169,054 shares of the technology company’s stock worth $6,528,000 after purchasing an additional 24,216 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

About Innodata

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.