Meeder Asset Management Inc. Takes Position in Innodata Inc. (NASDAQ:INOD)

Meeder Asset Management Inc. purchased a new position in Innodata Inc. (NASDAQ:INOD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 913 shares of the technology company’s stock, valued at approximately $36,000.

Other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC raised its stake in shares of Innodata by 79.4% in the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares during the last quarter. Allworth Financial LP bought a new stake in Innodata in the 4th quarter worth about $29,000. USA Financial Formulas purchased a new position in Innodata in the 4th quarter worth about $36,000. Principal Financial Group Inc. lifted its stake in Innodata by 9.9% during the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock valued at $806,000 after acquiring an additional 1,828 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 1,843 shares during the last quarter. Institutional investors own 30.75% of the company’s stock.

Insider Activity

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the sale, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. The trade was a 94.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now 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 275,427 shares of company stock worth $17,790,794 in the last three months. Company insiders own 15.23% of the company’s stock.

Innodata Stock Performance

NASDAQ:INOD opened at $37.85 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. The stock has a 50-day simple moving average of $45.38 and a two-hundred day simple moving average of $35.96. The firm has a market capitalization of $1.18 billion, a PE ratio of 44.53 and a beta of 2.59. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $71.00.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (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 company had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

INOD has been the subject of several research reports. Chardan Capital reissued a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Wedbush initiated coverage on shares of Innodata in a research note on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. BWS Financial raised their price target on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Maxim Group upped their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

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.