Raymond James Financial Inc. Purchases New Position in Innodata Inc. (NASDAQ:INOD)

Raymond James Financial Inc. purchased a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,231 shares of the technology company's stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Innodata by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after purchasing an additional 117,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock worth $12,176,000 after buying an additional 293,687 shares in the last quarter. Trexquant Investment LP increased its holdings in Innodata by 222.8% in the 4th quarter. Trexquant Investment LP now owns 300,488 shares of the technology company's stock valued at $11,875,000 after buying an additional 207,409 shares during the period. Wellington Management Group LLP acquired a new position in shares of Innodata in the 4th quarter valued at approximately $11,283,000. Finally, Rathbones Group PLC lifted its holdings in shares of Innodata by 42.4% during the 4th quarter. Rathbones Group PLC now owns 123,014 shares of the technology company's stock worth $4,862,000 after acquiring an additional 36,605 shares during the period. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Trading Down 15.8 %

NASDAQ INOD traded down $6.49 on Friday, reaching $34.62. The company had a trading volume of 8,388,923 shares, compared to its average volume of 1,293,423. 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 $10.66 and a fifty-two week high of $71.00. The business has a 50 day moving average of $38.73 and a two-hundred day moving average of $39.73. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 40.73 and a beta of 2.75.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company's revenue for the quarter was up 120.1% on a year-over-year basis. Analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on INOD shares. Wedbush dropped their target price on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday. BWS Financial increased 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, February 21st. Finally, Maxim Group boosted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Insider Activity

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the transaction, the director now directly owns 12,417 shares of the company's stock, valued at $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $3,165,655.50. Following the sale, the chief operating officer now owns 60,000 shares of the company's stock, valued at $3,904,200. This trade 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 in the last three months. 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.