Ameriprise Financial Inc. Has $13.65 Million Position in Innodata Inc. (NASDAQ:INOD)

Ameriprise Financial Inc. grew its stake in Innodata Inc. (NASDAQ:INOD) by 322.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,096 shares of the technology company’s stock after buying an additional 242,871 shares during the quarter. Ameriprise Financial Inc. owned 1.10% of Innodata worth $13,649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC acquired a new position in shares of Innodata in the fourth quarter valued at approximately $402,000. Vanguard Group Inc. boosted its holdings in shares of Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock valued at $64,802,000 after buying an additional 117,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Innodata by 2,038.4% in the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock valued at $12,176,000 after buying an additional 293,687 shares during the period. Calamos Advisors LLC acquired a new position in shares of Innodata in the fourth quarter valued at approximately $283,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Innodata by 256.4% in the fourth quarter. Wells Fargo & Company MN now owns 61,954 shares of the technology company’s stock valued at $2,448,000 after buying an additional 44,573 shares during the period. Institutional investors and hedge funds own 30.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INOD. Maxim Group upped their price target on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Wedbush cut their price objective on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Insider Buying and Selling at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the 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 completion of the sale, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction 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 sale, the chief operating officer now owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This represents a 44.78% 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 quarter. 12.20% of the stock is currently owned by insiders.

Innodata Stock Performance

Shares of INOD stock opened at $36.73 on Friday. The company’s fifty day simple moving average is $37.70 and its 200-day simple moving average is $40.26. 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 market cap of $1.17 billion, a PE ratio of 43.21 and a beta of 2.75. Innodata Inc. has a 12 month low of $11.87 and a 12 month high of $71.00.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million during the quarter, compared to analysts’ expectations of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company’s quarterly revenue was up 120.1% on a year-over-year basis. Equities research analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

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.