Innodata’s (INOD) Top Pick Rating Reiterated at BWS Financial

BWS Financial reiterated their top pick rating on shares of Innodata (NASDAQ:INOD) in a research note released on Friday,Benzinga reports. They currently have a $140.00 target price on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Finally, Wedbush increased their price objective on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.00.

Innodata Stock Performance

INOD opened at $57.14 on Friday. The stock’s fifty day moving average is $59.86 and its two-hundred day moving average is $64.42. The company has a market capitalization of $1.96 billion, a P/E ratio of 43.29 and a beta of 2.88. Innodata has a 52 week low of $34.23 and a 52 week high of $125.14. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.06.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.20. The business had revenue of $92.14 million during the quarter, compared to analysts’ expectations of $86.31 million. Innodata had a return on equity of 37.79% and a net margin of 14.66%.The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. Analysts forecast that Innodata will post 1.18 earnings per share for the current year.

Insider Activity

In related news, Director Louise Forlenza sold 10,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $53.54, for a total transaction of $535,400.00. Following the completion of the transaction, the director directly owned 5,424 shares in the company, valued at $290,400.96. The trade was a 64.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innodata

Several hedge funds have recently modified their holdings of INOD. Integrated Wealth Concepts LLC acquired a new stake in Innodata in the second quarter valued at approximately $151,000. Baird Financial Group Inc. acquired a new position in shares of Innodata during the 2nd quarter worth approximately $282,000. Nykredit A S purchased a new position in shares of Innodata during the 2nd quarter valued at approximately $88,000. Allianz Asset Management GmbH purchased a new position in shares of Innodata during the 2nd quarter valued at approximately $1,396,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Innodata in the 2nd quarter valued at $412,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Company Profile

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.