Janus Henderson Group PLC Reduces Stake in Innodata Inc. (NASDAQ:INOD)

Janus Henderson Group PLC trimmed its stake in Innodata Inc. (NASDAQ:INOD) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 652,860 shares of the technology company’s stock after selling 127,376 shares during the quarter. Janus Henderson Group PLC’s holdings in Innodata were worth $25,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INOD. Allworth Financial LP bought a new position in Innodata in the 4th quarter worth approximately $29,000. USA Financial Formulas bought a new position in Innodata in the 4th quarter worth approximately $36,000. Meeder Asset Management Inc. bought a new position in Innodata in the 4th quarter worth approximately $36,000. AlphaQuest LLC boosted its holdings in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Innodata in the 4th quarter worth approximately $150,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Stock Performance

NASDAQ INOD opened at $35.40 on Friday. Innodata Inc. has a 1 year low of $11.77 and a 1 year high of $71.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $1.12 billion, a PE ratio of 41.65 and a beta of 2.75. The company’s 50 day simple moving average is $37.80 and its two-hundred day simple moving average is $40.02.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, May 8th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $58.34 million for the quarter, compared to analysts’ expectations of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Innodata’s quarterly revenue was up 120.1% compared to the same quarter last year. Analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Activity at Innodata

In related news, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $1,171,620. This represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. This represents a 44.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock valued at $17,790,794 over the last 90 days. 12.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

INOD has been the subject of several analyst reports. BWS Financial raised their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Maxim Group increased their target price 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. Finally, Wedbush lowered their target price on shares of Innodata from $75.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

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.