Innodata Inc. $INOD Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in Innodata Inc. (NASDAQ:INOD) by 55.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,117 shares of the technology company’s stock after selling 18,731 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Innodata were worth $1,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in INOD. AQR Capital Management LLC increased its holdings in shares of Innodata by 446.4% during the 1st quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after purchasing an additional 74,320 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Innodata by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock worth $577,000 after buying an additional 711 shares in the last quarter. Millennium Management LLC boosted its holdings in Innodata by 30.7% during the first quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock worth $5,120,000 after buying an additional 33,473 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Innodata by 87.1% during the second quarter. Envestnet Asset Management Inc. now owns 32,460 shares of the technology company’s stock valued at $1,663,000 after buying an additional 15,115 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Innodata in the second quarter valued at $243,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Stock Performance

INOD opened at $45.15 on Friday. The firm’s fifty day simple moving average is $52.57 and its two-hundred day simple moving average is $58.54. Innodata Inc. has a 52-week low of $26.41 and a 52-week high of $93.85. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 49.62 and a beta of 2.46. The company has a quick ratio of 2.69, a current ratio of 2.68 and a debt-to-equity ratio of 0.07.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, February 26th. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Innodata had a net margin of 12.79% and a return on equity of 35.12%. The business had revenue of $72.38 million during the quarter, compared to analysts’ expectations of $69.47 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen cut Innodata from a “hold” rating to a “sell” rating in a report on Saturday. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Innodata in a research report on Friday, January 30th. Finally, BWS Financial reissued a “top pick” rating and issued a $110.00 price objective on shares of Innodata in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

About Innodata

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.