BNP Paribas Financial Markets Acquires 36,161 Shares of Innodata Inc. (NASDAQ:INOD)

BNP Paribas Financial Markets boosted its holdings in Innodata Inc. (NASDAQ:INOD) by 269.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,604 shares of the technology company’s stock after buying an additional 36,161 shares during the period. BNP Paribas Financial Markets owned approximately 0.17% of Innodata worth $1,960,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in INOD. Allworth Financial LP bought a new position in Innodata in the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. bought a new position in Innodata in the 4th quarter worth approximately $36,000. AlphaQuest LLC increased its position in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the period. SBI Securities Co. Ltd. bought a new position in Innodata in the 4th quarter worth approximately $150,000. Finally, Spire Wealth Management bought a new position in Innodata in the 4th quarter worth approximately $166,000. 30.75% of the stock is owned by institutional investors.

Innodata Stock Performance

INOD opened at $36.73 on Friday. The stock has a market cap of $1.17 billion, a PE ratio of 43.21 and a beta of 2.75. 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 Inc. has a 1 year low of $11.87 and a 1 year high of $71.00. The stock’s 50 day simple moving average is $37.70 and its 200-day simple moving average is $40.26.

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

Analyst Ratings Changes

Several research analysts have commented on INOD shares. Wedbush dropped their price target on Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. BWS Financial boosted their price objective on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Maxim Group boosted their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Insider Activity at Innodata

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction on 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 sale, the director now owns 12,417 shares of the company’s stock, valued at $799,654.80. The trade was a 94.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction on 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 represents a 44.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock valued at $17,790,794 in the last 90 days. 12.20% of the stock is owned by corporate insiders.

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.