Innodata Inc. $INOD Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in shares of Innodata Inc. (NASDAQ:INOD) by 276.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,339 shares of the technology company’s stock after buying an additional 14,203 shares during the period. Janney Montgomery Scott LLC owned 0.06% of Innodata worth $747,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Innodata during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC increased its stake in Innodata by 506.0% during the fourth quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock worth $41,000 after acquiring an additional 673 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after purchasing an additional 627 shares during the period. Leonteq Securities AG purchased a new position in shares of Innodata in the 4th quarter worth about $51,000. Finally, FNY Investment Advisers LLC lifted its stake in shares of Innodata by 2,675.0% in the 4th quarter. FNY Investment Advisers LLC now owns 1,030 shares of the technology company’s stock valued at $52,000 after purchasing an additional 1,070 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Stock Up 0.5%

NASDAQ INOD opened at $68.12 on Tuesday. The stock has a market cap of $2.22 billion, a PE ratio of 61.37 and a beta of 2.89. Innodata Inc. has a fifty-two week low of $34.23 and a fifty-two week high of $125.14. The business has a 50 day moving average price of $88.12 and a two-hundred day moving average price of $62.20. 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 issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $76.47 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. Innodata’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. As a group, sell-side analysts predict that Innodata Inc. will post 1.14 EPS for the current fiscal year.

Insider Buying and Selling at Innodata

In other Innodata news, COO Ashok Mishra sold 242,901 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $90.15, for a total value of $21,897,525.15. Following the transaction, the chief operating officer owned 95,179 shares in the company, valued at $8,580,386.85. The trade was a 71.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jack Abuhoff sold 200,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $110.20, for a total transaction of $22,040,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,340,456 shares of the company’s stock, valued at approximately $147,718,251.20. The trade was a 12.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,472,885 shares of company stock valued at $143,998,492 over the last 90 days. Insiders own 11.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Innodata from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. BWS Financial reaffirmed a “buy” rating on shares of Innodata in a research report on Monday, June 15th. Wedbush boosted their price objective on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Zacks Research raised shares of Innodata from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two equities 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $130.00.

Innodata Company Profile

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.