Faithward Advisors LLC Invests $1.25 Million in Innodata Inc. $INOD

Faithward Advisors LLC bought a new position in Innodata Inc. (NASDAQ:INOD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 24,560 shares of the technology company’s stock, valued at approximately $1,251,000. Faithward Advisors LLC owned 0.08% of Innodata as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Innodata in the 4th quarter worth $26,000. IFP Advisors Inc lifted its stake in shares of Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after acquiring an additional 627 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Innodata in the 3rd quarter worth $52,000. Farther Finance Advisors LLC lifted its stake in shares of Innodata by 506.0% in the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock worth $41,000 after acquiring an additional 673 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of Innodata in the 4th quarter worth $51,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Stock Down 1.2%

Shares of NASDAQ INOD opened at $99.66 on Tuesday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. Innodata Inc. has a 52 week low of $34.23 and a 52 week high of $125.14. The firm has a 50-day moving average price of $73.08 and a 200 day moving average price of $58.73. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 89.78 and a beta of 2.82.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The firm had revenue of $90.10 million during the quarter, compared to analysts’ expectations of $76.47 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. Equities research analysts anticipate that Innodata Inc. will post 1.14 EPS for the current fiscal year.

Insider Activity at Innodata

In related news, CFO Marissa B. Espineli sold 19,667 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $105.88, for a total value of $2,082,341.96. Following the completion of the sale, the chief financial officer owned 28,014 shares in the company, valued at $2,966,122.32. This trade represents a 41.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ashok Mishra sold 38,666 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $114.34, for a total transaction of $4,421,070.44. Following the completion of the sale, the chief operating officer owned 83,179 shares of the company’s stock, valued at $9,510,686.86. This trade represents a 31.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,178,826 shares of company stock worth $112,016,456 over the last three months. 11.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on INOD shares. Wedbush raised their target price on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. BWS Financial restated a “buy” rating on shares of Innodata in a research note on Monday. Weiss Ratings upgraded shares of Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.00.

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.