Innodata (NASDAQ:INOD) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Innodata (NASDAQ:INOD) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

INOD has been the topic of several other research reports. Weiss Ratings raised shares of Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 3rd. Wedbush lifted their price target on Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. BWS Financial reissued a “buy” rating on shares of Innodata in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two research 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, Innodata presently has a consensus rating of “Buy” and a consensus price target of $130.00.

Innodata Price Performance

Shares of NASDAQ INOD opened at $69.02 on Tuesday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 62.18 and a beta of 2.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. Innodata has a fifty-two week low of $34.23 and a fifty-two week high of $125.14. The firm’s 50-day simple moving average is $86.50 and its 200 day simple moving average is $61.89.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.34. The company had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $76.47 million. Innodata had a return on equity of 37.49% and a net margin of 13.86%.Innodata’s quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. As a group, research analysts anticipate that Innodata will post 1.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jack Abuhoff sold 200,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $110.20, for a total value of $22,040,000.00. Following the sale, the chief executive officer directly owned 1,340,456 shares of the company’s stock, valued at approximately $147,718,251.20. This represents a 12.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Ashok Mishra sold 242,901 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $90.15, for a total transaction of $21,897,525.15. Following the completion of the transaction, the chief operating officer owned 95,179 shares of the company’s stock, valued at $8,580,386.85. This trade represents a 71.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,472,885 shares of company stock valued at $143,998,492. 11.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its position in Innodata by 72.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 24,328 shares of the technology company’s stock worth $1,839,000 after buying an additional 10,257 shares in the last quarter. City Center Advisors LLC bought a new stake in shares of Innodata during the 2nd quarter valued at about $495,000. Rathbones Group PLC boosted its position in shares of Innodata by 20.8% during the 1st quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock valued at $5,571,000 after acquiring an additional 24,837 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Innodata by 7.7% during the first quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Innodata by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock worth $283,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 30.75% of the company’s stock.

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.