Innodata Inc. $INOD Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in shares of Innodata Inc. (NASDAQ:INOD) by 10.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,290 shares of the technology company’s stock after selling 871 shares during the period. Voya Investment Management LLC’s holdings in Innodata were worth $262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Innodata by 7.4% during the first quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company’s stock worth $63,197,000 after purchasing an additional 120,630 shares during the period. Boston Family Office LLC acquired a new stake in shares of Innodata during the first quarter worth $589,000. Strong Tower Advisory Services acquired a new stake in shares of Innodata during the first quarter worth $835,000. Virtu Financial LLC acquired a new stake in shares of Innodata during the first quarter worth $1,476,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Innodata by 63.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,471 shares of the technology company’s stock worth $843,000 after acquiring an additional 9,142 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $63.00.

Innodata Stock Performance

Shares of INOD opened at $75.94 on Tuesday. The firm has a 50-day moving average price of $49.90 and a 200 day moving average price of $44.30. The firm has a market capitalization of $2.42 billion, a PE ratio of 61.24 and a beta of 2.58. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09. Innodata Inc. has a 52-week low of $14.79 and a 52-week high of $77.47.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business’s quarterly revenue was up 79.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Innodata Inc. will post 0.81 earnings per share for the current fiscal 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.