Innodata Inc. $INOD Holdings Decreased by Palisades Investment Partners LLC

Palisades Investment Partners LLC cut its holdings in shares of Innodata Inc. (NASDAQ:INOD) by 97.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,708 shares of the technology company’s stock after selling 361,144 shares during the quarter. Palisades Investment Partners LLC’s holdings in Innodata were worth $594,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hussman Strategic Advisors Inc. bought a new position in Innodata during the second quarter valued at approximately $1,076,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Innodata during the 2nd quarter valued at $332,000. Moody Aldrich Partners LLC bought a new stake in Innodata in the third quarter worth $3,718,000. Dakota Wealth Management bought a new position in Innodata during the second quarter valued at about $321,000. Finally, Freedom Investment Management Inc. acquired a new stake in shares of Innodata in the second quarter worth about $242,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Stock Down 2.0%

NASDAQ INOD opened at $59.52 on Friday. Innodata Inc. has a 1-year low of $26.41 and a 1-year high of $93.85. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 61.36 and a beta of 2.43. The stock’s 50 day moving average is $56.47 and its two-hundred day moving average is $58.27. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Innodata had a return on equity of 41.67% and a net margin of 14.11%.The business had revenue of $62.55 million during the quarter, compared to the consensus estimate of $59.78 million. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INOD. Wedbush raised their price target on Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. BWS Financial raised Innodata from a “buy” rating to a “top pick” rating and set a $110.00 target price on the stock in a report on Monday, January 5th. Zacks Research lowered Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings lowered shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.67.

Insider Activity at Innodata

In other news, COO Ashok Mishra sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $61.39, for a total value of $12,278,000.00. Following the transaction, the chief operating officer directly owned 60,000 shares of the company’s stock, valued at $3,683,400. The trade was a 76.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Louise C. Forlenza sold 8,278 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total value of $538,070.00. Following the sale, the director directly owned 3,943 shares of the company’s stock, valued at $256,295. This represents a 67.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 236,372 shares of company stock valued at $14,572,507. Company insiders own 12.20% of the company’s stock.

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.