Canada Pension Plan Investment Board Takes Position in Innodata Inc. (NASDAQ:INOD)

Canada Pension Plan Investment Board purchased a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 57,900 shares of the technology company's stock, valued at approximately $2,288,000. Canada Pension Plan Investment Board owned about 0.20% of Innodata as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company's stock worth $9,011,000 after buying an additional 9,408 shares during the period. Barclays PLC boosted its stake in Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock worth $647,000 after acquiring an additional 29,470 shares during the last quarter. Geode Capital Management LLC grew its holdings in Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after purchasing an additional 13,609 shares during the period. Principal Financial Group Inc. acquired a new position in Innodata during the third quarter valued at approximately $311,000. Finally, JPMorgan Chase & Co. raised its holdings in Innodata by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock worth $242,000 after purchasing an additional 2,099 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on INOD shares. BWS Financial boosted their price target on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. Maxim Group boosted their target price on Innodata from $54.00 to $75.00 and gave the company 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, Innodata presently has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Insider Activity at Innodata

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the completion of the transaction, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction dated 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 $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is owned by insiders.

Innodata Stock Down 2.5 %

Shares of INOD stock traded down $0.97 during trading hours on Tuesday, hitting $37.26. 229,328 shares of the company were exchanged, compared to its average volume of 1,876,161. The company has a market capitalization of $1.17 billion, a PE ratio of 43.83 and a beta of 2.66. Innodata Inc. has a 52 week low of $5.80 and a 52 week high of $71.00. The business has a 50 day moving average of $41.94 and a two-hundred day moving average of $38.63. 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 (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.20. The firm had revenue of $59.18 million during the quarter, compared to analysts' expectations of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

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.