Meeder Asset Management Inc. Takes $36,000 Position in Innodata Inc. (NASDAQ:INOD)

Meeder Asset Management Inc. purchased a new position in Innodata Inc. (NASDAQ:INOD) during the 4th quarter, Holdings Channel.com reports. The firm purchased 913 shares of the technology company’s stock, valued at approximately $36,000.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Innodata by 2,038.4% in the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock valued at $12,176,000 after purchasing an additional 293,687 shares during the last quarter. Wellington Management Group LLP purchased a new position in Innodata during the fourth quarter worth $11,283,000. Vanguard Group Inc. boosted its stake in Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock worth $64,802,000 after buying an additional 117,000 shares during the period. Wealthfront Advisers LLC bought a new position in Innodata during the fourth quarter valued at $2,328,000. Finally, Barclays PLC raised its stake in shares of Innodata by 324.3% in the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock valued at $647,000 after acquiring an additional 29,470 shares during the period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on INOD. Wedbush initiated coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. BWS Financial upped their target price on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Maxim Group increased their price target on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Chardan Capital restated a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Transactions at Innodata

In related news, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the transaction, the chief operating officer now owns 60,000 shares of the company’s stock, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,427 shares of company stock valued at $17,790,794. Company insiders own 15.23% of the company’s stock.

Innodata Trading Up 3.6 %

INOD opened at $37.85 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $45.38 and its two-hundred day moving average is $35.96. The company has a market capitalization of $1.18 billion, a P/E ratio of 44.53 and a beta of 2.59. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $71.00.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

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.