Brokerages Set Innodata Inc. (NASDAQ:INOD) Price Target at $38.20

Innodata Inc. (NASDAQ:INOD) has earned a consensus rating of “Buy” from the five research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $38.20.

Several brokerages recently commented on INOD. Wedbush assumed coverage on Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target for the company. BWS Financial boosted their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Craig Hallum started coverage on shares of Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. Chardan Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Finally, StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Insiders Place Their Bets

In other news, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the transaction, the director now directly owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Ashok Mishra sold 92,726 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total transaction of $4,002,054.16. The disclosure for this sale can be found here. Insiders have sold 1,035,083 shares of company stock worth $46,889,370 in the last ninety days. Insiders own 15.23% of the company’s stock.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently added to or reduced their stakes in INOD. Principal Financial Group Inc. bought a new position in shares of Innodata during the 3rd quarter valued at about $311,000. Los Angeles Capital Management LLC acquired a new position in shares of Innodata during the 3rd quarter worth about $330,000. Geode Capital Management LLC raised its holdings in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after purchasing an additional 13,609 shares during the period. Silverleafe Capital Partners LLC acquired a new stake in Innodata in the 4th quarter valued at about $913,000. Finally, Barclays PLC lifted its holdings in Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock valued at $647,000 after purchasing an additional 29,470 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Innodata Price Performance

INOD opened at $35.96 on Tuesday. The stock has a fifty day moving average price of $39.64 and a 200 day moving average price of $24.95. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata has a 1 year low of $5.46 and a 1 year high of $55.17. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 60.95 and a beta of 2.59.

Innodata Company Profile

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.