Teachers Retirement System of The State of Kentucky Purchases 9,483 Shares of Innodata Inc. $INOD

Teachers Retirement System of The State of Kentucky grew its position in shares of Innodata Inc. (NASDAQ:INOD) by 64.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,273 shares of the technology company’s stock after buying an additional 9,483 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.07% of Innodata worth $937,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in Innodata during the first quarter worth about $45,000. Quantum Portfolio Management LLC increased its stake in shares of Innodata by 7.6% in the first quarter. Quantum Portfolio Management LLC now owns 7,192 shares of the technology company’s stock worth $278,000 after purchasing an additional 505 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Innodata by 51.1% in the first quarter. Private Advisor Group LLC now owns 7,268 shares of the technology company’s stock valued at $281,000 after purchasing an additional 2,459 shares during the period. Leonteq Securities AG raised its position in shares of Innodata by 462.0% in the first quarter. Leonteq Securities AG now owns 5,620 shares of the technology company’s stock valued at $217,000 after purchasing an additional 4,620 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Innodata by 276.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,339 shares of the technology company’s stock valued at $747,000 after buying an additional 14,203 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Stock Performance

NASDAQ INOD opened at $60.97 on Friday. The company’s 50 day simple moving average is $89.23 and its two-hundred day simple moving average is $62.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49. Innodata Inc. has a 1 year low of $34.23 and a 1 year high of $125.14. The stock has a market capitalization of $1.99 billion, a PE ratio of 54.93 and a beta of 2.89.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director Louise C. Forlenza sold 18,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $94.47, for a total transaction of $1,700,460.00. Following the completion of the transaction, the director directly owned 3,943 shares in the company, valued at $372,495.21. The trade was a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Abuhoff sold 200,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $110.20, for a total value of $22,040,000.00. Following the completion of the transaction, the chief executive officer owned 1,340,456 shares in the company, valued at $147,718,251.20. This represents a 12.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,472,885 shares of company stock worth $143,998,492 over the last three months. Corporate insiders own 11.80% of the company’s stock.

Innodata 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.