Innodata (NASDAQ:INOD) Director Louise Forlenza Sells 10,000 Shares

Innodata Inc. (NASDAQ:INOD) Director Louise Forlenza sold 10,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $53.54, for a total value of $535,400.00. Following the completion of the transaction, the director directly owned 5,424 shares in the company, valued at approximately $290,400.96. The trade was a 64.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Innodata Stock Down 1.6%

Shares of Innodata stock opened at $54.37 on Wednesday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 41.19 and a beta of 2.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.73 and a quick ratio of 1.73. Innodata Inc. has a 52-week low of $34.23 and a 52-week high of $125.14. The stock has a 50-day simple moving average of $60.59 and a 200-day simple moving average of $64.18.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. The firm had revenue of $92.14 million for the quarter, compared to the consensus estimate of $86.31 million. Innodata had a return on equity of 37.79% and a net margin of 14.66%.The firm’s revenue was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, equities research analysts expect that Innodata Inc. will post 1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Innodata in the 2nd quarter valued at $151,000. Baird Financial Group Inc. bought a new position in shares of Innodata during the 2nd quarter worth about $282,000. Nykredit A S bought a new position in shares of Innodata during the 2nd quarter worth about $88,000. Allianz Asset Management GmbH acquired a new position in shares of Innodata during the second quarter valued at about $1,396,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Innodata during the second quarter valued at about $412,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on INOD shares. Wedbush increased their price target on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. BWS Financial reiterated a “top pick” rating and issued a $140.00 price objective on shares of Innodata in a report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Innodata currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

About Innodata

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.