Wells Fargo & Company MN Grows Position in Innodata Inc. (NASDAQ:INOD)

Wells Fargo & Company MN raised its position in Innodata Inc. (NASDAQ:INOD) by 256.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,954 shares of the technology company’s stock after purchasing an additional 44,573 shares during the quarter. Wells Fargo & Company MN owned 0.21% of Innodata worth $2,448,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in Innodata during the 4th quarter valued at $29,000. USA Financial Formulas bought a new position in shares of Innodata in the fourth quarter worth about $36,000. Meeder Asset Management Inc. purchased a new position in Innodata in the 4th quarter worth about $36,000. AlphaQuest LLC lifted its holdings in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after buying an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Innodata in the 4th quarter valued at about $150,000. Institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INOD shares. BWS Financial lifted their price target on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Maxim Group lifted their target price on Innodata from $54.00 to $75.00 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 given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Stock Up 8.9 %

Shares of NASDAQ INOD opened at $37.46 on Friday. Innodata Inc. has a 12-month low of $5.50 and a 12-month high of $71.00. The stock’s fifty day simple moving average is $42.77 and its two-hundred day simple moving average is $38.00. The stock has a market capitalization of $1.17 billion, a PE ratio of 44.07 and a beta of 2.66. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

Innodata (NASDAQ:INOD) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $53.01 million. As a group, analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Innodata

In related news, 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 transaction, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at $1,171,620. This represents a 62.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now directly owns 12,417 shares of the company’s stock, valued at approximately $799,654.80. This represents a 94.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock worth $17,790,794 over the last three months. Corporate insiders own 15.23% of the company’s stock.

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.