Squarepoint Ops LLC Has $3.07 Million Holdings in Innodata Inc. $INOD

Squarepoint Ops LLC decreased its position in shares of Innodata Inc. (NASDAQ:INOD) by 44.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,017 shares of the technology company’s stock after selling 47,774 shares during the period. Squarepoint Ops LLC owned 0.19% of Innodata worth $3,074,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Innodata by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company’s stock valued at $63,197,000 after purchasing an additional 120,630 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of Innodata during the second quarter worth approximately $1,076,000. American Century Companies Inc. boosted its position in shares of Innodata by 36.2% in the first quarter. American Century Companies Inc. now owns 63,088 shares of the technology company’s stock valued at $2,265,000 after acquiring an additional 16,781 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Innodata in the second quarter worth $332,000. Finally, Ieq Capital LLC bought a new position in Innodata during the first quarter worth $231,000. 30.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Wedbush increased their target price on shares of Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Weiss Ratings upgraded Innodata from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, BWS Financial reiterated a “buy” rating and issued a $110.00 price objective on shares of Innodata in a research report on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.67.

Innodata Stock Up 3.1%

Shares of INOD opened at $50.75 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $65.70 and a two-hundred day moving average price of $56.35. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 52.32 and a beta of 2.39. Innodata Inc. has a 12 month low of $26.41 and a 12 month high of $93.85.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The business had revenue of $62.55 million during the quarter, compared to analysts’ expectations of $59.78 million. Innodata had a return on equity of 41.67% and a net margin of 14.11%.The firm’s revenue was up 19.8% on a year-over-year basis. Equities analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Louise C. Forlenza sold 8,278 shares of Innodata stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total transaction of $538,070.00. Following the completion of the transaction, the director directly owned 3,943 shares of the company’s stock, valued at $256,295. This trade represents a 67.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ashok Mishra sold 200,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the completion of the transaction, the chief operating officer owned 60,000 shares in the company, valued at approximately $3,683,400. This trade represents a 76.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 236,372 shares of company stock valued at $14,572,507. Company insiders own 15.23% of the company’s stock.

About Innodata

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.