Franklin Resources Inc. Takes Position in Innodata Inc. (NASDAQ:INOD)

Franklin Resources Inc. bought a new position in shares of Innodata Inc. (NASDAQ:INOD) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,437 shares of the technology company’s stock, valued at approximately $689,000. Franklin Resources Inc. owned approximately 0.06% of Innodata as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in shares of Innodata during the 4th quarter valued at about $402,000. Principal Financial Group Inc. acquired a new stake in Innodata during the third quarter valued at approximately $311,000. Vanguard Group Inc. grew its stake in shares of Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after purchasing an additional 117,000 shares during the period. 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 worth $10,294,000 after buying an additional 13,609 shares in the last quarter. Finally, Silverleafe Capital Partners LLC bought a new position in shares of Innodata during the 4th quarter worth approximately $913,000. 30.75% of the stock is currently owned by institutional investors.

Innodata Price Performance

Shares of INOD stock opened at $34.78 on Thursday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 40.92 and a beta of 2.66. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $71.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $44.60 and a 200-day moving average of $37.28.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. On average, equities research analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Insider Activity

In related news, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock worth $17,790,794 in the last quarter. Corporate insiders own 15.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on INOD shares. BWS Financial upped their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Maxim Group upped their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Wedbush initiated coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.00.

Innodata 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.