Principal Financial Group Inc. Has $791,000 Stock Position in Innodata Inc. (NASDAQ:INOD)

Principal Financial Group Inc. boosted its stake in Innodata Inc. (NASDAQ:INOD) by 8.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,047 shares of the technology company’s stock after purchasing an additional 1,661 shares during the quarter. Principal Financial Group Inc. owned about 0.07% of Innodata worth $791,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV purchased a new stake in Innodata in the 1st quarter worth about $29,000. Meeder Asset Management Inc. purchased a new position in Innodata in the 4th quarter worth approximately $36,000. KBC Group NV purchased a new position in shares of Innodata during the first quarter valued at approximately $52,000. USA Financial Formulas increased its stake in shares of Innodata by 180.5% during the first quarter. USA Financial Formulas now owns 2,533 shares of the technology company’s stock valued at $91,000 after buying an additional 1,630 shares during the period. Finally, Fullcircle Wealth LLC purchased a new stake in Innodata in the fourth quarter worth $194,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on INOD. BWS Financial reiterated a “buy” rating and set a $74.00 target price on shares of Innodata in a research report on Monday, June 16th. Wedbush lowered their price target on Innodata from $75.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Innodata Trading Down 1.6%

Innodata stock opened at $49.28 on Friday. The company has a 50 day moving average price of $44.47 and a 200 day moving average price of $42.32. Innodata Inc. has a 52 week low of $13.02 and a 52 week high of $71.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 47.39 and a beta of 2.68.

Innodata (NASDAQ:INOD) last posted its quarterly 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. Innodata had a net margin of 17.53% and a return on equity of 55.38%. The company had revenue of $58.34 million for the quarter, compared to analyst estimates of $57.64 million. The firm’s quarterly revenue was up 120.1% compared to the same quarter last year. Research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

About Innodata

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.