Northern Trust Corp Purchases 22,808 Shares of Innodata Inc. (NASDAQ:INOD)

Northern Trust Corp lifted its position in shares of Innodata Inc. (NASDAQ:INOD) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,753 shares of the technology company’s stock after acquiring an additional 22,808 shares during the period. Northern Trust Corp’s holdings in Innodata were worth $9,989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP acquired a new position in Innodata during the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. acquired a new stake in shares of Innodata during the fourth quarter worth $36,000. AlphaQuest LLC boosted its stake in Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after acquiring an additional 456 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Innodata during the fourth quarter worth $150,000. Finally, Spire Wealth Management bought a new position in Innodata during the fourth quarter worth $166,000. Institutional investors own 30.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Maxim Group boosted their price target on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, BWS Financial boosted their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.00.

Insider Activity at Innodata

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the transaction, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. This represents a 94.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock worth $17,790,794 in the last three months. 12.20% of the stock is owned by insiders.

Innodata Price Performance

INOD stock opened at $36.73 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata Inc. has a one year low of $11.87 and a one year high of $71.00. The stock has a market cap of $1.17 billion, a PE ratio of 43.21 and a beta of 2.75. The firm has a 50 day simple moving average of $37.70 and a two-hundred day simple moving average of $40.26.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $58.34 million during the quarter, compared to analyst estimates of $57.64 million. The firm’s revenue was up 120.1% on a year-over-year basis. On average, analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

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.