Harvest Investment Services LLC Makes New $747,000 Investment in Innodata Inc. (NASDAQ:INOD)

Harvest Investment Services LLC purchased a new position in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,899 shares of the technology company's stock, valued at approximately $747,000. Harvest Investment Services LLC owned about 0.07% of Innodata as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP acquired a new position in Innodata in the fourth quarter worth approximately $29,000. USA Financial Formulas bought a new position in Innodata during the fourth quarter worth $36,000. Meeder Asset Management Inc. acquired a new stake in Innodata during the fourth quarter worth about $36,000. AlphaQuest LLC lifted its position in Innodata by 79.4% in the fourth 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. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Innodata during the 4th quarter valued at about $150,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Analyst Ratings Changes

INOD has been the subject of several research analyst reports. Maxim Group boosted their price objective 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. BWS Financial increased their target price on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research note 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's stock. According to MarketBeat, Innodata presently has an average rating of "Moderate Buy" and an average price target of $53.00.

Innodata Stock Performance

INOD stock traded down $0.87 during mid-day trading on Monday, hitting $37.21. The company had a trading volume of 483,153 shares, compared to its average volume of 1,891,173. 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 cap of $1.16 billion, a PE ratio of 43.77 and a beta of 2.66. Innodata Inc. has a 12 month low of $5.80 and a 12 month high of $71.00. The stock's fifty day moving average price is $42.37 and its two-hundred day moving average price is $38.47.

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

Insider Activity at Innodata

In other news, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction on 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 in the company, valued at $1,171,620. The trade was a 62.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $12,672,438.80. Following the completion of the sale, the director now owns 12,417 shares of the company's stock, valued at $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. 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 owned by corporate insiders.

About Innodata

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.