Northern Trust Corp Raises Holdings in Innodata Inc. (NASDAQ:INOD)

Northern Trust Corp increased its position in Innodata Inc. (NASDAQ:INOD) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 252,753 shares of the technology company’s stock after buying an additional 22,808 shares during the quarter. Northern Trust Corp owned about 0.87% of Innodata worth $9,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Allworth Financial LP bought a new position in shares of Innodata during the fourth quarter worth about $29,000. Meeder Asset Management Inc. bought a new position in shares of Innodata during the fourth quarter worth about $36,000. AlphaQuest LLC lifted its position in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Innodata during the fourth quarter worth about $150,000. Finally, Spire Wealth Management bought a new position in Innodata in the fourth quarter worth about $166,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Stock Up 3.8%

Innodata stock opened at $36.73 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 43.21 and a beta of 2.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata Inc. has a fifty-two week low of $11.87 and a fifty-two week high of $71.00. The firm has a fifty day moving average price of $37.70 and a two-hundred day moving average price of $40.26.

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

Wall Street Analyst Weigh In

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

Insider Activity at Innodata

In related 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 completion of the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction dated 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 directly owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This trade represents a 44.78% decrease in their position. 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. Company insiders own 12.20% 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.