Raymond James Financial Inc. Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Raymond James Financial Inc. acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,231 shares of the technology company’s stock, valued at approximately $483,000.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Innodata by 2.3% in the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after acquiring an additional 13,609 shares in the last quarter. State Street Corp lifted its stake in shares of Innodata by 1.8% in the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 1,843 shares during the period. Bank of New York Mellon Corp increased its position in shares of Innodata by 30.7% during the 4th quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company’s stock valued at $2,854,000 after purchasing an additional 16,961 shares during the last quarter. Finally, Barclays PLC increased its position in shares of 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

Shares of Innodata stock opened at $31.83 on Tuesday. The business has a 50 day simple moving average of $45.02 and a two-hundred day simple moving average of $36.48. 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 has a market capitalization of $996.28 million, a P/E ratio of 37.45 and a beta of 2.66. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $71.00.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) 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 company had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $53.01 million. As a group, analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INOD has been the subject of a number of recent analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Innodata in a research note on Friday, December 13th. BWS Financial boosted their target price on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wedbush assumed coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target on the stock. Finally, Maxim Group raised their price target on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Innodata has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Insiders Place Their Bets

In other news, CFO Marissa B. Espineli sold 30,000 shares of the firm’s 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 approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. This represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock worth $17,790,794 over the last ninety days. Corporate insiders own 15.23% 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.