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

BNP Paribas Financial Markets lifted its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 269.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,604 shares of the technology company's stock after buying 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 reporting period.

Several other institutional investors also recently modified their holdings of INOD. Allworth Financial LP bought a new position in shares of Innodata during the 4th quarter valued at $29,000. Meeder Asset Management Inc. bought a new position in Innodata in the 4th quarter worth approximately $36,000. AlphaQuest LLC increased its holdings in Innodata by 79.4% in 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 last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Innodata in the fourth quarter worth about $150,000. Finally, Spire Wealth Management bought a new position in shares of Innodata during the 4th quarter valued at approximately $166,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Stock Performance

Shares of Innodata stock traded down $2.41 during trading on Wednesday, hitting $34.81. 1,356,831 shares of the company's stock were exchanged, compared to its average volume of 1,329,938. 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 business has a 50-day simple moving average of $37.42 and a 200-day simple moving average of $40.50. Innodata Inc. has a 52-week low of $11.87 and a 52-week high of $71.00. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 40.95 and a beta of 2.75.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $58.34 million for the quarter, compared to the consensus estimate of $57.64 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Innodata'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.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INOD. Wedbush reduced their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. BWS Financial lifted their price target 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 objective on 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, Innodata has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Insider Transactions at Innodata

In related news, CFO Marissa B. Espineli sold 30,000 shares of the company's stock in a transaction dated 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 owns 18,000 shares of the company's stock, valued at approximately $1,171,620. This represents a 62.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. The trade was a 94.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock worth $17,790,794 over the last quarter. 15.23% of the stock is currently owned by insiders.

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.