Hennion & Walsh Asset Management Inc. Acquires New Holdings in Innodata Inc. (NASDAQ:INOD)

Hennion & Walsh Asset Management Inc. bought a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,392 shares of the technology company’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Innodata during the 4th quarter valued at approximately $36,000. Harbour Capital Advisors LLC acquired a new stake in Innodata during the 4th quarter valued at approximately $292,000. Silverleafe Capital Partners LLC acquired a new stake in Innodata during the 4th quarter valued at approximately $913,000. JPMorgan Chase & Co. increased its position in Innodata by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company’s stock valued at $242,000 after purchasing an additional 2,099 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in Innodata during the 3rd quarter valued at approximately $311,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Price Performance

Shares of INOD opened at $38.24 on Wednesday. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $55.17. The business’s fifty day moving average is $40.35 and its 200 day moving average is $25.91. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.11 billion, a P/E ratio of 64.81 and a beta of 2.59.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, November 7th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.28. Innodata had a return on equity of 44.38% and a net margin of 14.57%. The company had revenue of $52.22 million for the quarter, compared to analysts’ expectations of $35.47 million. During the same period last year, the business earned $0.01 EPS. Sell-side analysts anticipate that Innodata Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nauman Sabeeh Toor sold 200,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $45.37, for a total value of $9,074,000.00. Following the transaction, the director now owns 319,401 shares in the company, valued at approximately $14,491,223.37. This trade represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock worth $46,889,370 in the last ninety days. Corporate insiders own 15.23% of the company’s stock.

Analyst Ratings Changes

INOD has been the subject of a number of recent analyst reports. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Wedbush started coverage on shares of Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective for the company. Finally, BWS Financial raised their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

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.