BNP Paribas Financial Markets Grows Stake in Innodata Inc. (NASDAQ:INOD)

BNP Paribas Financial Markets boosted its stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 269.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,604 shares of the technology company's stock after purchasing an additional 36,161 shares during the period. BNP Paribas Financial Markets owned approximately 0.17% of Innodata worth $1,960,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Invesco Ltd. grew its position in Innodata by 2.0% in the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after purchasing an additional 232 shares during the period. NewEdge Advisors LLC grew its position in Innodata by 2.7% in the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock worth $447,000 after purchasing an additional 300 shares during the period. AlphaQuest LLC grew its position in Innodata by 79.4% in 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 period. Allworth Financial LP bought a new stake in Innodata in the 4th quarter worth approximately $29,000. Finally, Meeder Asset Management Inc. bought a new stake in Innodata in the 4th quarter worth approximately $36,000. Institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

INOD traded up $0.33 during midday trading on Friday, reaching $36.48. The company had a trading volume of 1,020,746 shares, compared to its average volume of 1,339,719. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $36.86 and a two-hundred day moving average of $40.66. The company has a market cap of $1.16 billion, a P/E ratio of 42.92 and a beta of 2.75. Innodata Inc. has a 1 year low of $11.87 and a 1 year high of $71.00.

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

Insiders Place Their Bets

In related news, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares in the company, valued at approximately $1,171,620. This trade represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value 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 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 over the last quarter. 15.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wedbush cut their target price on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Maxim Group upped their price objective on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, BWS Financial lifted their target price on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $55.00.

Innodata Company 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.