Innodata (NASDAQ:INOD) Upgraded at BWS Financial

BWS Financial upgraded shares of Innodata (NASDAQ:INOD) from a buy rating to a top pick rating in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage currently has $110.00 price objective on the technology company’s stock.

A number of other research firms have also commented on INOD. Weiss Ratings reiterated a “buy (b-)” rating on shares of Innodata in a research note on Monday, December 29th. Wedbush lifted their price target on Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, Zacks Research lowered Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $91.67.

Innodata Price Performance

Shares of NASDAQ INOD opened at $64.03 on Monday. The stock has a market cap of $2.04 billion, a P/E ratio of 66.01 and a beta of 2.43. The firm’s 50-day simple moving average is $57.44 and its 200 day simple moving average is $57.29. Innodata has a fifty-two week low of $26.41 and a fifty-two week high of $93.85. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Innodata had a net margin of 14.11% and a return on equity of 41.67%. The firm had revenue of $62.55 million during the quarter, compared to analyst estimates of $59.78 million. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that Innodata will post 0.81 EPS for the current year.

Insider Activity

In other news, Director Louise C. Forlenza sold 8,278 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.00, for a total value of $538,070.00. Following the completion of the sale, the director owned 3,943 shares in the company, valued at $256,295. This represents a 67.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ashok Mishra sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $61.39, for a total value of $12,278,000.00. Following the sale, the chief operating officer owned 60,000 shares of the company’s stock, valued at $3,683,400. The trade was a 76.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 236,372 shares of company stock worth $14,572,507. Corporate insiders own 12.20% of the company’s stock.

Institutional Trading of Innodata

A number of institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new position in Innodata in the 2nd quarter valued at $36,000. Global Retirement Partners LLC acquired a new stake in shares of Innodata in the third quarter worth $50,000. IFP Advisors Inc grew its position in Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after purchasing an additional 627 shares during the last quarter. Goodman Advisory Group LLC bought a new position in Innodata during the third quarter valued at about $52,000. Finally, Toth Financial Advisory Corp increased its position in shares of Innodata by 40.2% during the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company’s stock valued at $59,000 after purchasing an additional 330 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Company Profile

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.