Innodata Inc. $INOD Shares Sold by Renaissance Group LLC

Renaissance Group LLC decreased its stake in shares of Innodata Inc. (NASDAQ:INOD) by 13.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 152,886 shares of the technology company’s stock after selling 24,266 shares during the quarter. Renaissance Group LLC’s holdings in Innodata were worth $11,783,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INOD. Arizona State Retirement System increased its stake in shares of Innodata by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 9,386 shares of the technology company’s stock worth $723,000 after acquiring an additional 217 shares during the last quarter. New York State Teachers Retirement System increased its position in Innodata by 11.2% during the third quarter. New York State Teachers Retirement System now owns 2,747 shares of the technology company’s stock worth $212,000 after purchasing an additional 277 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Innodata by 17.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,095 shares of the technology company’s stock worth $159,000 after purchasing an additional 462 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Innodata by 3.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,613 shares of the technology company’s stock valued at $851,000 after purchasing an additional 528 shares during the last quarter. Finally, Strong Tower Advisory Services grew its stake in shares of Innodata by 2.9% in the 3rd quarter. Strong Tower Advisory Services now owns 22,571 shares of the technology company’s stock valued at $1,740,000 after buying an additional 630 shares during the period. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on INOD shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Innodata in a research report on Friday, January 30th. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. BWS Financial reaffirmed a “top pick” rating and issued a $110.00 price target on shares of Innodata in a research note on Friday, January 30th. Finally, Weiss Ratings cut Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. One research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.67.

Innodata Stock Up 9.4%

NASDAQ:INOD opened at $47.59 on Friday. Innodata Inc. has a 52 week low of $26.41 and a 52 week high of $93.85. The stock’s fifty day moving average is $56.18 and its two-hundred day moving average is $58.54. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 49.06 and a beta of 2.42. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.08.

Innodata (NASDAQ:INOD) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $62.55 million for the quarter, compared to the consensus estimate of $59.78 million. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. Research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Insider Activity

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

Innodata Company 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.