Prosperity Wealth Management Inc. Purchases New Stake in Innodata Inc. (NASDAQ:INOD)

Prosperity Wealth Management Inc. purchased a new stake in Innodata Inc. (NASDAQ:INOD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,050 shares of the technology company’s stock, valued at approximately $318,000.

A number of other large investors have also added to or reduced their stakes in INOD. AlphaQuest LLC increased its position in Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the period. Allworth Financial LP bought a new position in Innodata in the fourth quarter valued at about $29,000. USA Financial Formulas bought a new position in shares of Innodata during the fourth quarter worth about $36,000. Principal Financial Group Inc. raised its position in shares of Innodata by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock worth $806,000 after acquiring an additional 1,828 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after acquiring an additional 1,843 shares during the last quarter. Institutional investors own 30.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. BWS Financial lifted their target price on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. Maxim Group lifted their target price on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Trading Up 11.3 %

Shares of Innodata stock opened at $46.60 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $71.00. The stock has a 50 day moving average price of $44.23 and a two-hundred day moving average price of $33.28. The stock has a market capitalization of $1.46 billion, a PE ratio of 54.82 and a beta of 2.59.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $53.01 million. As a group, equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Activity at Innodata

In related news, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the transaction, the director now owns 209,194 shares of the company’s stock, valued at $9,204,536. The trade was a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the transaction, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. The trade was a 44.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,634 shares of company stock valued at $22,639,902 over the last 90 days. Insiders own 15.23% of the company’s stock.

Innodata Company 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.