Jennison Associates LLC Makes New $402,000 Investment in Innodata Inc. (NASDAQ:INOD)

Jennison Associates LLC purchased a new position in Innodata Inc. (NASDAQ:INOD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,169 shares of the technology company’s stock, valued at approximately $402,000.

A number of other hedge funds also recently modified their holdings of INOD. Squarepoint Ops LLC bought a new stake in shares of Innodata in the 2nd quarter worth approximately $381,000. Compass Ion Advisors LLC raised its holdings in shares of Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after purchasing an additional 2,011 shares during the period. Private Advisor Group LLC raised its holdings in shares of Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,207 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Innodata in the 3rd quarter worth approximately $311,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Innodata in the 3rd quarter worth approximately $330,000. Institutional investors own 30.75% of the company’s stock.

Insider Activity

In other news, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the completion of the transaction, the director now directly owns 209,194 shares in the company, valued at $9,204,536. The trade was a 34.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ashok Mishra sold 58,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total transaction of $2,630,745.00. The disclosure for this sale can be found here. Insiders sold 1,035,083 shares of company stock worth $46,889,370 in the last three months. Corporate insiders own 15.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Chardan Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Wedbush initiated coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note 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 stock. According to data from MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Innodata Stock Up 7.7 %

Innodata stock opened at $42.88 on Friday. The firm has a 50 day simple moving average of $39.18 and a 200 day simple moving average of $27.56. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 72.68 and a beta of 2.57. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a 1-year low of $5.46 and a 1-year high of $55.17.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.28. The firm had revenue of $52.22 million during the quarter, compared to analyst estimates of $35.47 million. Innodata had a net margin of 14.57% and a return on equity of 44.38%. During the same period in the previous year, the business earned $0.01 EPS. On average, analysts predict that Innodata Inc. will post 0.62 earnings per share for the current year.

Innodata Company 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.