Janney Montgomery Scott LLC Boosts Stock Position in Innodata Inc. $INOD

Janney Montgomery Scott LLC raised its holdings in Innodata Inc. (NASDAQ:INOD) by 276.5% during the first quarter, HoldingsChannel.com reports. 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’s holdings in Innodata were worth $747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Innodata during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC increased its stake in shares of Innodata by 506.0% in the fourth quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock worth $41,000 after buying an additional 673 shares during the last quarter. IFP Advisors Inc raised its holdings in Innodata by 1,567.5% in the third quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock valued at $51,000 after acquiring an additional 627 shares in the last quarter. Leonteq Securities AG acquired a new stake in Innodata in the fourth quarter valued at $51,000. Finally, FNY Investment Advisers LLC boosted its stake in Innodata by 2,675.0% during the 4th quarter. FNY Investment Advisers LLC now owns 1,030 shares of the technology company’s stock valued at $52,000 after acquiring an additional 1,070 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 Innodata news, CEO Jack Abuhoff sold 200,000 shares of Innodata stock in a transaction that occurred on 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 directly owned 1,340,456 shares in the company, valued at $147,718,251.20. The trade was a 12.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Ashok Mishra sold 242,901 shares of the company’s stock in a transaction that occurred 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 directly owned 95,179 shares of the company’s stock, valued at $8,580,386.85. This trade represents a 71.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,472,885 shares of company stock worth $143,998,492 in the last three months. 11.80% of the stock is currently owned by corporate insiders.

Innodata Trading Up 0.5%

Innodata stock opened at $68.12 on Tuesday. Innodata Inc. has a 1 year low of $34.23 and a 1 year high of $125.14. The firm’s 50-day moving average is $88.12 and its 200-day moving average is $62.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. The company has a market cap of $2.22 billion, a P/E ratio of 61.37 and a beta of 2.89.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.34. The business 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%. The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, equities analysts expect that Innodata Inc. will post 1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

INOD has been the subject of several recent analyst reports. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. BWS Financial restated a “buy” rating on shares of Innodata in a research note on Monday, June 15th. Zacks Research raised shares of Innodata from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Wedbush increased their price target on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings upgraded Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Innodata presently has an average rating of “Buy” and an average 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.