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% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,273 shares of the technology company’s stock after purchasing an additional 9,483 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Innodata were worth $937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INOD. RFG Advisory LLC bought a new stake in Innodata in the 4th quarter worth approximately $5,750,000. Bleakley Financial Group LLC bought a new position in Innodata during the fourth quarter valued at approximately $900,000. Next Century Growth Investors LLC raised its stake in shares of Innodata by 107.5% during the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock worth $18,639,000 after acquiring an additional 189,488 shares in the last quarter. UBS Group AG lifted its holdings in shares of Innodata by 37.1% in the 4th quarter. UBS Group AG now owns 350,928 shares of the technology company’s stock worth $17,880,000 after acquiring an additional 95,002 shares during the last quarter. Finally, Meridian Wealth Management LLC lifted its holdings in shares of Innodata by 237.6% in the 4th quarter. Meridian Wealth Management LLC now owns 41,927 shares of the technology company’s stock worth $2,136,000 after acquiring an additional 29,509 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Innodata

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

Innodata Stock Down 6.6%

Shares of Innodata stock opened at $60.97 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. Innodata Inc. has a 52-week low of $34.23 and a 52-week high of $125.14. The company’s 50 day moving average price is $89.23 and its 200-day moving average price is $62.44. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 54.93 and a beta of 2.89.

Innodata (NASDAQ:INOD) last posted 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 company 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 firm’s revenue was up 54.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS. Equities research analysts forecast that Innodata Inc. will post 1.14 EPS for the current year.

Analyst Ratings Changes

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

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.