Franklin Resources Inc. Invests $689,000 in Innodata Inc. (NASDAQ:INOD)

Franklin Resources Inc. bought a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,437 shares of the technology company's stock, valued at approximately $689,000. Franklin Resources Inc. owned about 0.06% of Innodata at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Innodata by 2,038.4% in the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock valued at $12,176,000 after purchasing an additional 293,687 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Innodata during the fourth quarter worth about $11,283,000. Vanguard Group Inc. raised its holdings in shares of Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after purchasing an additional 117,000 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of Innodata in the 4th quarter valued at about $2,328,000. Finally, Barclays PLC grew its holdings in shares of Innodata by 324.3% during the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock worth $647,000 after purchasing an additional 29,470 shares during the period. Hedge funds and other institutional investors own 30.75% of the company's stock.

Insider Buying and Selling at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This represents a 62.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value 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. The trade was a 94.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock worth $17,790,794 in the last ninety days. 15.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on INOD shares. 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 report on Friday, February 21st. Maxim Group upped their price target on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $53.00.

Innodata Stock Up 5.3 %

INOD traded up $1.56 during trading hours on Tuesday, reaching $31.24. 754,942 shares of the stock traded hands, compared to its average volume of 1,294,897. Innodata Inc. has a fifty-two week low of $5.50 and a fifty-two week high of $71.00. 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 cap of $977.81 million, a price-to-earnings ratio of 36.75 and a beta of 2.66. The firm's fifty day simple moving average is $43.49 and its two-hundred day simple moving average is $37.87.

Innodata (NASDAQ:INOD - Get Free Report) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million for the quarter, compared to analyst estimates of $53.01 million. As a group, analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

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.