BWS Financial Reiterates “Top Pick” Rating for Innodata (NASDAQ:INOD)

Innodata (NASDAQ:INOD)‘s stock had its “top pick” rating reaffirmed by research analysts at BWS Financial in a report issued on Friday,Benzinga reports. They presently have a $140.00 price target on the technology company’s stock. BWS Financial’s price objective suggests a potential upside of 116.27% from the company’s current price.

A number of other research firms have also commented on INOD. Weiss Ratings lowered Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Wedbush upped their price objective on Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Finally, Zacks Research raised Innodata from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $130.00.

Innodata Stock Performance

Shares of Innodata stock traded down $0.74 during trading on Friday, reaching $64.73. The company’s stock had a trading volume of 3,193,667 shares, compared to its average volume of 1,529,566. The firm has a market cap of $2.11 billion, a PE ratio of 57.49 and a beta of 2.92. The business’s 50-day moving average price is $79.62 and its 200-day moving average price is $62.74. Innodata has a 52 week low of $34.23 and a 52 week high of $125.14. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.20. The firm had revenue of $92.14 million during the quarter, compared to analysts’ expectations of $86.31 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The company’s revenue was up 57.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS. Equities analysts forecast that Innodata will post 1.08 earnings per share for the current year.

Insider Transactions at Innodata

In related news, COO Ashok Mishra sold 38,666 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $114.34, for a total transaction of $4,421,070.44. Following the completion of the transaction, the chief operating officer directly owned 83,179 shares of the company’s stock, valued at approximately $9,510,686.86. This represents a 31.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Louise C. Forlenza sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $94.47, for a total value of $1,700,460.00. Following the transaction, the director owned 3,943 shares of the company’s stock, valued at $372,495.21. This represents a 82.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,472,885 shares of company stock valued at $143,998,492 over the last three months. Corporate insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On Innodata

Several hedge funds have recently added to or reduced their stakes in INOD. AQR Capital Management LLC lifted its stake in shares of Innodata by 446.4% in the first quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock worth $3,266,000 after buying an additional 74,320 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Innodata by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock worth $577,000 after purchasing an additional 711 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Innodata by 30.7% in the 1st quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock valued at $5,120,000 after acquiring an additional 33,473 shares during the period. JPMorgan Chase & Co. increased its stake in Innodata by 16.0% in the second quarter. JPMorgan Chase & Co. now owns 20,375 shares of the technology company’s stock valued at $1,044,000 after purchasing an additional 2,816 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Innodata by 1,527.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,422 shares of the technology company’s stock valued at $483,000 after acquiring an additional 8,843 shares during the period. 30.75% of the stock is owned by hedge funds and other institutional investors.

About Innodata

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.