Bank of America Corp DE Lowers Stock Holdings in Innodata Inc. (NASDAQ:INOD)

Bank of America Corp DE trimmed its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,031 shares of the technology company's stock after selling 13,034 shares during the period. Bank of America Corp DE's holdings in Innodata were worth $515,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP bought a new position in shares of Innodata during the fourth quarter valued at $29,000. Meeder Asset Management Inc. purchased a new position in Innodata in the 4th quarter worth about $36,000. AlphaQuest LLC lifted its stake in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after acquiring an additional 456 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Innodata during the 4th quarter valued at about $150,000. Finally, Clare Market Investments LLC bought a new stake in shares of Innodata in the fourth quarter worth approximately $201,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wedbush lowered their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. BWS Financial boosted their target price 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 raised their price target on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research note 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 MarketBeat.com, Innodata presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Innodata Stock Performance

Shares of INOD stock traded up $0.48 during mid-day trading on Thursday, reaching $43.05. 657,614 shares of the company's stock traded hands, compared to its average volume of 1,446,639. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $1.37 billion, a PE ratio of 50.65 and a beta of 2.65. Innodata Inc. has a 12 month low of $12.67 and a 12 month high of $71.00. The firm has a 50 day moving average price of $37.78 and a two-hundred day moving average price of $40.92.

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, beating 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 analyst estimates of $57.64 million. The company's quarterly revenue was up 120.1% compared to the same quarter last year. On average, research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Innodata Profile

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.