Innodata Inc. (NASDAQ:INOD) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,753 shares of the technology company's stock after acquiring an additional 22,808 shares during the quarter. Northern Trust Corp owned 0.87% of Innodata worth $9,989,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of INOD. Vanguard Group Inc. raised its position in Innodata by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after acquiring an additional 117,000 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock valued at $12,176,000 after acquiring an additional 293,687 shares during the last quarter. Trexquant Investment LP lifted its holdings in Innodata by 222.8% in the 4th quarter. Trexquant Investment LP now owns 300,488 shares of the technology company's stock valued at $11,875,000 after purchasing an additional 207,409 shares in the last quarter. Wellington Management Group LLP acquired a new position in Innodata during the fourth quarter worth about $11,283,000. Finally, Dimensional Fund Advisors LP raised its holdings in Innodata by 58.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 280,297 shares of the technology company's stock valued at $11,080,000 after acquiring an additional 103,431 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Trading Down 6.5%

Innodata stock traded down $2.41 during mid-day trading on Wednesday, hitting $34.81. The company's stock had a trading volume of 1,356,831 shares, compared to its average volume of 1,329,937. The stock's fifty day moving average is $37.42 and its two-hundred day moving average is $40.50. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.11 billion, a PE 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.

Innodata (NASDAQ:INOD - Get Free Report) last released 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. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The company had revenue of $58.34 million for the quarter, compared to analysts' expectations of $57.64 million. The firm's revenue for the quarter was up 120.1% compared to the same quarter last year. On average, analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. This represents a 62.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares of the company's stock, valued at $3,904,200. The trade was a 44.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,427 shares of company stock valued at $17,790,794. Corporate insiders own 15.23% of the company's stock.

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.