Wells Fargo & Company MN Increases Stake in Innodata Inc. (NASDAQ:INOD)

Wells Fargo & Company MN increased its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 256.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,954 shares of the technology company's stock after purchasing an additional 44,573 shares during the quarter. Wells Fargo & Company MN owned approximately 0.21% of Innodata worth $2,448,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in INOD. Jennison Associates LLC acquired a new stake in Innodata in the fourth quarter valued at $402,000. Principal Financial Group Inc. bought a new position in shares of Innodata in the third quarter valued at about $311,000. Vanguard Group Inc. raised its position in shares of Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock valued at $64,802,000 after purchasing an additional 117,000 shares during the period. Geode Capital Management LLC increased its position in Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock worth $10,294,000 after acquiring an additional 13,609 shares during the period. Finally, Silverleafe Capital Partners LLC bought a new position in Innodata during the fourth quarter worth about $913,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on INOD shares. BWS Financial raised their price target on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Maxim Group raised their target price on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a report 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.00.

Innodata Stock Down 5.4 %

NASDAQ INOD traded down $2.01 during trading hours on Wednesday, hitting $35.55. The company's stock had a trading volume of 216,422 shares, compared to its average volume of 1,302,226. Innodata Inc. has a 52 week low of $5.80 and a 52 week high of $71.00. The company has a market capitalization of $1.11 billion, a PE ratio of 41.81 and a beta of 2.66. 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 company's 50-day simple moving average is $41.60 and its two-hundred day simple moving average is $38.62.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results 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 net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million for the quarter, compared to analysts' expectations of $53.01 million. Research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction dated 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 sale, the director now owns 12,417 shares of the company's stock, valued at $799,654.80. This trade represents a 94.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock valued at $17,790,794 in the last 90 days. 15.23% of the stock is currently owned by corporate insiders.

Innodata 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.