Innodata (NASDAQ:INOD) Trading Up 7.4% – Still a Buy?

Innodata Inc. (NASDAQ:INOD)’s share price traded up 7.4% during mid-day trading on Monday . The stock traded as high as $45.25 and last traded at $44.14. 632,466 shares traded hands during trading, a decline of 16% from the average session volume of 750,986 shares. The stock had previously closed at $41.08.

Analysts Set New Price Targets

A number of equities analysts have recently commented on INOD shares. BWS Financial increased their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Craig Hallum assumed coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50 day moving average is $26.86 and its 200-day moving average is $19.78. The company has a market capitalization of $1.17 billion, a P/E ratio of 68.44 and a beta of 2.56.

Insider Buying and Selling

In related news, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the sale, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack Abuhoff sold 225,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the sale, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $55,116,044.04. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 666,376 shares of company stock worth $30,335,517 in the last three months. Insiders own 15.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INOD. Price T Rowe Associates Inc. MD lifted its position in Innodata by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after purchasing an additional 982 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Innodata during the 2nd quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. increased its holdings in Innodata by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after acquiring an additional 1,843 shares in the last quarter. Compass Ion Advisors LLC increased its holdings in Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after acquiring an additional 2,207 shares during the period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.