Ameriprise Financial Inc. Increases Position in Innodata Inc. (NASDAQ:INOD)

Ameriprise Financial Inc. grew its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 322.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 318,096 shares of the technology company's stock after buying an additional 242,871 shares during the quarter. Ameriprise Financial Inc. owned 1.10% of Innodata worth $13,649,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in INOD. JPMorgan Chase & Co. raised its holdings in Innodata by 17.1% during 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 in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Innodata during the 4th quarter worth approximately $371,000. SG Americas Securities LLC acquired a new position in Innodata during the 4th quarter worth approximately $775,000. Precision Wealth Strategies LLC purchased a new position in shares of Innodata during the 4th quarter worth approximately $466,000. Finally, Spire Wealth Management acquired a new stake in shares of Innodata in the 4th quarter valued at approximately $166,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Insiders Place Their Bets

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 12,417 shares of the company's stock, valued at approximately $799,654.80. This trade represents a 94.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was 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 directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 275,427 shares of company stock worth $17,790,794. Insiders own 15.23% of the company's stock.

Analysts Set New Price Targets

INOD has been the subject of a number of recent analyst reports. Maxim Group raised their target price on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 21st. Wedbush cut their price target on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Innodata Price Performance

INOD traded down $2.41 during trading on Wednesday, reaching $34.81. 1,356,831 shares of the stock were exchanged, compared to its average volume of 1,329,937. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 40.95 and a beta of 2.75. Innodata Inc. has a 1 year low of $11.87 and a 1 year high of $71.00. The business's 50 day moving average price is $37.42 and its two-hundred day moving average price is $40.50.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. The business's revenue for the quarter was up 120.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current 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.