Innodata (NASDAQ:INOD) Price Target Raised to $75.00 at Maxim Group

Innodata (NASDAQ:INOD) had its price target boosted by Maxim Group from $54.00 to $75.00 in a research report released on Friday morning,Benzinga reports. Maxim Group currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price on the stock. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. BWS Financial upped their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. Finally, Chardan Capital reissued a “buy” rating and issued a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Innodata Stock Up 13.4 %

NASDAQ INOD opened at $61.89 on Friday. Innodata has a 12 month low of $5.46 and a 12 month high of $71.00. The company has a market capitalization of $1.79 billion, a P/E ratio of 104.90 and a beta of 2.57. The company’s 50 day simple moving average is $41.05 and its 200 day simple moving average is $29.81. 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 (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The firm had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. Equities research analysts expect that Innodata will post 0.62 earnings per share for the current fiscal year.

Insider Activity at Innodata

In other Innodata news, COO Ashok Mishra sold 58,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total value of $2,630,745.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jack Abuhoff sold 187,099 shares of Innodata stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $54,747,653.06. This trade represents a 13.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 559,806 shares of company stock valued at $25,353,904. 15.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Innodata

Several hedge funds have recently added to or reduced their stakes in INOD. Allworth Financial LP bought a new position in Innodata during the fourth quarter worth about $29,000. USA Financial Formulas bought a new position in Innodata in the fourth quarter valued at approximately $36,000. Meeder Asset Management Inc. acquired a new position in Innodata during the fourth quarter worth $36,000. AlphaQuest LLC increased its stake in shares of Innodata by 79.4% during the 4th 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. Finally, SBI Securities Co. Ltd. acquired a new position in Innodata during the fourth quarter worth approximately $150,000. Institutional investors own 30.75% 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.