Voya Investment Management LLC Decreases Stock Holdings in Innodata Inc. $INOD

Voya Investment Management LLC reduced its position in shares of Innodata Inc. (NASDAQ:INOD) by 88.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,519 shares of the technology company’s stock after selling 43,749 shares during the period. Voya Investment Management LLC’s holdings in Innodata were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of INOD. City Center Advisors LLC purchased a new stake in Innodata in the 3rd quarter worth approximately $468,000. State of Wyoming raised its holdings in shares of Innodata by 38.3% during the second quarter. State of Wyoming now owns 4,334 shares of the technology company’s stock valued at $222,000 after acquiring an additional 1,200 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Innodata in the second quarter worth $253,000. FORA Capital LLC purchased a new stake in Innodata in the second quarter worth $797,000. Finally, Headlands Technologies LLC boosted its holdings in Innodata by 460.3% in the second quarter. Headlands Technologies LLC now owns 14,080 shares of the technology company’s stock valued at $721,000 after acquiring an additional 11,567 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Price Performance

Shares of INOD opened at $52.99 on Friday. Innodata Inc. has a fifty-two week low of $26.41 and a fifty-two week high of $93.85. The firm’s 50-day simple moving average is $58.29 and its two-hundred day simple moving average is $56.94. The stock has a market cap of $1.69 billion, a PE ratio of 54.63 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69.

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

Insider Activity

In related news, Director Louise C. Forlenza sold 8,278 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total value of $538,070.00. Following the transaction, the director owned 3,943 shares in the company, valued at $256,295. The trade was a 67.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ashok Mishra sold 200,000 shares of Innodata stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the completion of the transaction, the chief operating officer directly owned 60,000 shares of the company’s stock, valued at $3,683,400. This trade represents a 76.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 236,372 shares of company stock valued at $14,572,507. 12.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Innodata in a report on Monday, December 29th. Zacks Research cut shares of Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. BWS Financial restated a “buy” rating and issued a $110.00 price objective on shares of Innodata in a report on Tuesday, November 11th. Finally, Wedbush lifted their price objective on Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.67.

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.