Innodata (NASDAQ:INOD) Upgraded to “Strong-Buy” at Zacks Research

Innodata (NASDAQ:INOD) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings upgraded Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. BWS Financial restated a “buy” rating on shares of Innodata in a research report on Monday, June 15th. Wedbush boosted their price objective on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Finally, Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $130.00.

Innodata Stock Down 0.9%

NASDAQ:INOD opened at $69.02 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 62.18 and a beta of 2.89. Innodata has a one year low of $34.23 and a one year high of $125.14. The stock has a 50-day simple moving average of $86.50 and a 200 day simple moving average of $61.89.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. The company had revenue of $90.10 million for the quarter, compared to the consensus estimate of $76.47 million. Innodata had a return on equity of 37.49% and a net margin of 13.86%.Innodata’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. Sell-side analysts predict that Innodata will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling at Innodata

In other news, COO Ashok Mishra sold 242,901 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $90.15, for a total transaction of $21,897,525.15. Following the completion of the transaction, the chief operating officer owned 95,179 shares in the company, valued at approximately $8,580,386.85. This represents a 71.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Abuhoff sold 200,000 shares of Innodata stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $110.20, for a total transaction of $22,040,000.00. Following the completion of the sale, the chief executive officer owned 1,340,456 shares in the company, valued at approximately $147,718,251.20. This represents a 12.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,472,885 shares of company stock valued at $143,998,492. Corporate insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Innodata

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Innodata by 446.4% in the 1st quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after acquiring an additional 74,320 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Innodata by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock worth $577,000 after acquiring an additional 711 shares during the period. Millennium Management LLC grew its stake in shares of Innodata by 30.7% in the first quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock worth $5,120,000 after purchasing an additional 33,473 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Innodata by 16.0% in the second quarter. JPMorgan Chase & Co. now owns 20,375 shares of the technology company’s stock worth $1,044,000 after purchasing an additional 2,816 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Innodata by 1,527.3% during the second quarter. Russell Investments Group Ltd. now owns 9,422 shares of the technology company’s stock valued at $483,000 after purchasing an additional 8,843 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

About Innodata

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.