Teachers Retirement System of The State of Kentucky Purchases New Position in Innodata Inc. (NASDAQ:INOD)

Teachers Retirement System of The State of Kentucky acquired a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 21,895 shares of the technology company's stock, valued at approximately $865,000. Teachers Retirement System of The State of Kentucky owned about 0.08% of Innodata at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new position in shares of Innodata in the 4th quarter valued at $29,000. USA Financial Formulas bought a new position in Innodata in the fourth quarter valued at about $36,000. Meeder Asset Management Inc. bought a new position in Innodata in the fourth quarter valued at about $36,000. AlphaQuest LLC boosted its stake in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after purchasing an additional 456 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Innodata during the fourth quarter worth about $150,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Stock Up 1.6 %

Shares of NASDAQ INOD opened at $38.07 on Monday. The company's 50 day moving average price is $42.37 and its 200-day moving average price is $38.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata Inc. has a 52-week low of $5.80 and a 52-week high of $71.00. The company has a market capitalization of $1.19 billion, a P/E ratio of 44.79 and a beta of 2.66.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million for the quarter, compared to analysts' expectations of $53.01 million. Equities analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on INOD. BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Insider Buying and Selling

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares of the company's stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock valued at $17,790,794 over the last 90 days. Company insiders own 15.23% of the company's stock.

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.

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