Teachers Retirement System of The State of Kentucky Acquires 5,463 Shares of Innodata Inc. (NASDAQ:INOD)

Key Points

• The Teachers Retirement System of The State of Kentucky increased its stake in Innodata Inc. by 25%, owning 27,358 shares valued at approximately $982,000 as of the latest quarter.
• Innodata's quarterly earnings exceeded expectations with an earnings per share of $0.22, compared to the analyst forecast of $0.17, and reported a revenue of $58.34 million.
• Institutional and hedge fund ownership of Innodata is significant, comprising 30.75% of the company's stock holdings.

Teachers Retirement System of The State of Kentucky raised its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 25.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,358 shares of the technology company's stock after buying an additional 5,463 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.09% of Innodata worth $982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new position in shares of Innodata in the 1st quarter valued at approximately $29,000. Meeder Asset Management Inc. acquired a new position in shares of Innodata in the 4th quarter valued at approximately $36,000. KBC Group NV acquired a new position in shares of Innodata in the 1st quarter valued at approximately $52,000. USA Financial Formulas grew its position in shares of Innodata by 180.5% in the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock valued at $91,000 after purchasing an additional 1,630 shares during the period. Finally, CWM LLC grew its position in shares of Innodata by 113.2% in the 1st quarter. CWM LLC now owns 5,199 shares of the technology company's stock valued at $187,000 after purchasing an additional 2,760 shares during the period. 30.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INOD. Wedbush decreased their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. BWS Financial reaffirmed a "buy" rating and set a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Innodata currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Innodata Stock Down 3.9%

NASDAQ:INOD traded down $1.95 during trading hours on Tuesday, reaching $47.50. 677,617 shares of the stock were exchanged, compared to its average volume of 2,097,238. Innodata Inc. has a twelve month low of $13.02 and a twelve month high of $71.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a 50 day moving average of $45.85 and a 200 day moving average of $42.69. The stock has a market cap of $1.51 billion, a PE ratio of 45.74 and a beta of 2.68.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. Innodata had a return on equity of 55.38% and a net margin of 17.53%. The company had revenue of $58.34 million for the quarter, compared to analysts' expectations of $57.64 million. The business's quarterly revenue was up 120.1% on a year-over-year basis. On average, equities analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.

Innodata Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.